Ultimately, the source of growth in real wages is the growth in labor productivity
a. True
b. False
Indicate whether the statement is true or false
True
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The main cause of low per capita income is ________
A) a low level of capital B) a small workforce C) low productivity of capital and labor D) slow growth of capital and labor shares of income E) none of the above
At the end of the 18th century, approximately _______ percent of the American people earned a major portion of their income by farming
a. 25 b. 50 c. 70 d. 90
In Figure 13-2, which of the graphs represents a firm that is a sales revenue maximizer?
A. 1 B. 2 C. 3 D. 4
Suppose the United States puts a numerical limit on the number of imported cars from Japan and South Korea. This would be known as a(n)
A. natural barrier to trade. B. tariff. C. quota. D. exchange rate.