Improvements in labor productivity
A) affect the level of wages, but do not affect the rate of economic growth.
B) affect the level of profit, but do not affect the rate of economic growth.
C) hinder economic growth, because they cause unemployment.
D) contribute to economic growth.
D
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In the United States, runs on banks are prevented because
A) banks are forbidden to make unprofitable loans. B) banks have the option of denying depositors access to their funds. C) the government guarantees bank accounts for up to $250,000. D) banks keep 100 percent of their deposits on hand.
The deposit expansion multiplier would decrease if the Fed were to
A) raise the required reserve ratio. B) lower the required reserve ratio. C) lower the discount rate. D) buy bonds.
Suppose that flu shots create a positive externality equal to $20 per shot. What is the relationship between the market equilibrium output level and the efficient equilibrium output produced? a. They are equal
b. The market equilibrium output level is greater than the efficient equilibrium output level. c. The market equilibrium output level is less than the efficient equilibrium output level. d. None of the above.
If workers in the auto industry were unionized as auto workers, regardless of their specific jobs in the plant, this union would be called a(n)
a. agency union b. industrial union c. skilled union d. craft union e. federated union