In the United States, the annual growth rate of real GDP per hour worked between 2006 and 2014 averaged
A) -0.3%. B) 1.2%. C) 6.9%. D) 10.2%.
B
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When the average product of labor is greater than the marginal product of labor
A) the marginal product of labor must be increasing as labor increases. B) there must be increasing marginal returns. C) the average product of labor is decreasing as labor increases. D) None of the above answers is correct
Suppose the economy's production function is Y = AK0.3N0.7. Suppose K = 200, N = 2000, and A = 1. Calculate the marginal products of labor and capital
What will be an ideal response?
Which is the most accurate statement about trade?
a. Trade can make every nation better off. b. Trade makes some nations better off and others worse off. c. Trading for a good can make a nation better off only if the nation cannot produce that good itself. d. Trade helps rich nations and hurts poor nations.
If you lost 10 percent on $200 worth of stock in a 2x margin account, then you would:
A. lose $20. B. gain $40. C. gain $20. D. lose $40.