The ratio of total output to the total number of worker hours measures
A. the ratio of labor cost to total cost.
B. labor force participation.
C. productivity.
D. capital per worker.
Answer: C
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According to this Application, residents of Greece in 2015 ________ withdrawals of funds from their banks in order to hold ________ cash
A) decreased; less B) increased; more C) increased; less D) decreased; more
A country with an official settlements balance of zero and a negative current account balance is a
A) net creditor. B) net lender. C) net borrower. D) net saver. E) None of the above answers is correct because it is not possible to have an official settlements balance of zero and a negative current account balance.
The gravity model suggests that over time
A) trade between neighboring countries will increase. B) trade between all countries will increase. C) world trade will eventually be swallowed by a black hole. D) trade between Earth and other planets will become important. E) the value of trade between two countries will be proportional to the product of the two countries' GDP.
When workers voluntarily leave work while they look for better jobs, the resulting unemployment is called
A) structural unemployment. B) frictional unemployment. C) cyclical unemployment. D) underemployment.