In the wake of Henry Ford's payment of efficiency wages in 1914 ________
A) absenteeism and productivity fell
B) absenteeism and productivity rose
C) absenteeism rose and productivity fell
D) absenteeism fell and productivity rose
D
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If the opportunity cost of entrepreneurship increases:
A) the aggregate demand in the economy increases. B) the number of entrepreneurs in the economy will increase. C) the price level in the economy falls. D) the aggregate output of the economy will decrease.
Expansionary monetary policy is achieved by:
A) decreasing the amount of bank reserves and lowering the federal funds rate. B) decreasing the amount of bank reserves and raising the federal funds rate. C) increasing the amount of bank reserves and lowering the federal funds rate. D) increasing the amount of bank reserves and raising the federal funds rate.
In December of 2007, with an unemployment rate of 5.0 percent, most economists believed this was above the natural rate
a. True b. False Indicate whether the statement is true or false
A nation with cheap, efficient communications is likely to be
a. richer, ceteris paribus, because transaction costs will be lower and trade greater. b. richer only if production of goods is cheaper, too, since trade itself cannot create value. c. poorer since it spends so much on communication instead of true productivity. d. spending too much on communications, which adds nothing to the value of output.