The most direct effect of an increase in the growth rate of average labor productivity would be an increase in
A) the inflation rate.
B) the unemployment rate.
C) the long-run economic growth rate.
D) imported goods.
C
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Which of the following is a microeconomic topic?
i. K-Mart's decision to close stores that are not making a profit ii. Home Depot's choice to hire more full-time employees because its sales increased iii. Delta Airlines changes its fares. A) i only B) ii only C) i and iii D) ii and iii E) i, ii, and iii
A voting procedure in which voters initially rank alternatives, the alternative with the fewest first-place votes is eliminated and those votes are transferred to each voter's next-favorite choice,
and the process repeats until a winner emerges, is known as the A) Borda-count method. B) Condorcet method. C) instant runoff method. D) plurality-rule method
The price of a financial asset should be equal to
A) the face value of the asset divided by the interest rate. B) the present value of payments to be received from owning that asset. C) the face value of the asset. D) the present value of the sum of the coupon payments and the interest rate.
In order to increase society's well-being, a process that produces a positive externality might be
a. taxed to discourage production b. subsidized to encourage production c. taxed to encourage production d. subsidized to discourage production e. provided without government intervention