Describe the trend in the rate of productivity from 1973 to 1995 and then from 1995 to 2012
Please provide the best answer for the statement.
Productivity growth was 2.4 percent annually from 1995–2012 compared with 1.5 percent annually from 1973–1995. This development caused some economists to think that this recent increase in trend rate productivity had emerged based on improvements in technology and global competition.
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A public good
A. is available to all and cannot be denied to anyone. B. is characterized by rivalry and excludability. C. can be profitably produced by private firms. D. produces no positive or negative externalities.
Which of the following differs between a perfectly competitive market and a market with a perfectly price discriminating monopoly?
A) The amount of producer surplus B) The quantity produced C) The total surplus D) None of the above because they are all the same in a perfectly competitive market and in a market with a perfectly price discriminating monopoly.
The assumption that labor markets clear makes it very easy for the classical model to explain recessions
a. True b. False
Suppose the total benefit of watching 1 baseball game is 100, the total benefit of watching 2 games is 120, and the total benefit of watching 3 games is 125. In this case, the marginal benefit of watching the 3rd game is:
A. 375 B. 5 C. 41.67 D. 125