Describe the pattern of growth rates in real GDP per hour worked in the United States since the early nineteenth century. Has output per hour worked consistently increased at the same rate? Explain
What will be an ideal response?
Growth in real GDP per hour worked averaged 1.3% throughout the nineteenth century and then increased to over 2% until the mid-1970s (when it fell to 1.3% again). Productivity slowed dramatically during the mid-1970s, but the emergence of the "new economy" saw average annual growth rates in GDP per hour worked rebound to 2.4% from 1996 - 2005, and then slowed to 1.2% from 2006-2014.
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A corrective tax on steel would ______.
a. raise the deadweight loss b. raise the demand c. raise the price d. raise the supply
When a commercial bank borrows from a Federal Reserve Bank:
A. the supply of money automatically increases. B. it indicates that the commercial bank is unsound financially. C. the commercial bank's lending ability is increased. D. the commercial bank's reserves are reduced.
Time on the Cross views slavery as a system in which
(a) the slaves were quite happy, good-hearted and content with their condition. (b) the plantations were efficient operations with incentive systems providing slaves with some rewards for productive behaviors. (c) the slaves, because of the oppression and brutal conditions they faced, had the same type of attitudes as did the inmates of Nazi concentration camps during World War II. (d) the prospects of escape or resistance were so poor that slaves made few revolts against slavery.
A resource that is a common property is
A) oil on land owned by a drilling and refining company. B) natural gas on land owned by an energy producer. C) timber on land owned by a lumber company. D) water in a publicly owned river.