Which of the following might reduce labor productivity?
A. Rising literacy.
B. Rising ratios of labor to capital.
C. Rising human capital.
D. Larger capital stock.
Answer: B
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In which of the following countries are citizens required to vote?
a. Greece b. Canada c. United States d. France
The basic tools of supply and demand apply to
a. both markets for goods and services and markets for labor services. b. markets for goods and services but not to markets for labor services. c. markets for goods and services but not to markets for factors of production. d. all markets except those in which demand is derived demand.
In a small closed economy investment is $50 billion and private saving is $45 billion. What are public saving and national saving?
a. $5 billion and $45 billion b. -$5 billion and $45 billion c. $5 billion and $50 billion d. -$5 billion and $50 billion
How extensively does the United States use quotas?
A. Very little; there are few quotas on imports. B. Selectively; there are more quotas than most people realize. C. Widely; quotas are extensive and cover a wide range of goods. D. Widely; although the United States prefers to use tariffs, which cover a wide range of goods.