Between 1995 and 2009, the U.S. productivity rate:
A. was slightly negative, mainly because of record levels of employment growth.
B. grew substantially compared to prior years, leading some economists to predict a long-lasting resurgence of productivity growth.
C. slowed considerably relative to the high rates between 1990 and 1995.
D. reached record low levels for the United States' economy, leading some economists to talk of a long-term trend of stagnation.
Answer: B. grew substantially compared to prior years, leading some economists to predict a long-lasting resurgence of productivity growth.
You might also like to view...
Why might the use of more advanced technology not be a sufficient condition for sustained economic growth?
What will be an ideal response?
During the recession of 2001,
a. there were a number of proposals for tax increases or spending cuts to stir the economy, but they failed due to worries about their effects on the already large deficit. b. a series of tax cuts were passed, though they only occurred in late 2001. c. all the proposed tax and spending cuts were approved in order to motivate the economy and reduce the large deficit. d. the cyclical deficit increased but the structural deficit remained unchanged. e. None of the above
Which of the following causes a leftward shift in the short-run aggregate supply curve? a. An increase of goods prices while nominal incomes are unchanged
b. An increase in nominal incomes (wages and salaries). c. An increase of full-employment real GDP. d. An increase of personal consumption expenditures while the price level is unchanged. e. An increase of personal consumption expenditures while full-employment real GDP is unchanged.
If the current dollars/peso exchange rate is $0.10 per peso, so that 10 pesos buy you a dollar, then how many dollars do you need to buy something that costs 50 pesos?
a. $50 b. $5 c. $15 d. $0.50 e. $1.50