All of the following increase labor productivity except _________
A. the accumulation of skill and knowledge
B. an increase in capital per hour of labor
C. an increase in consumption
D. the employment of a new technology
C An increase in consumption has nothing to do with changing labor productivity.
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Refer to Figure 7-3. On the above graph, identify the market equilibrium price and quantity, the efficient equilibrium price and quantity, and the value of the deadweight loss resulting from too few people receiving vaccinations
What will be an ideal response?
If you were told that the exchange rate was 1.5 U.S. dollars per 1 Canadian dollar (CDN), that would mean that Canadians would have to spend _________ to buy a $12 watch in New York City
a. $18 CDN b. $15 CDN c. $1.5 CDN d. $12 CDN e. $8 CDN
Recently, there has been talk about reforming the tax system. Some advocate replacing the current income tax with a consumption tax. The income tax taxes interest earned on savings directly, while a consumption tax doesn't. Assuming the demand curve for loanable funds is unchanged, which of the following would most likely occur?
a. a decline in the interest rate and an increase in the quantity of loanable funds demanded and supplied b. an increase in the interest rate and a decrease in the quantity of loanable funds demanded and supplied c. no effect on the interest rate, but a decline in the quantity of loanable funds demanded and supplied d. an increase in both the interest rate and quantity of loanable funds demanded and supplied e. an increase in the interest rate but no effect on the quantity of loanable funds demanded and supplied
Movies are a major export of the U.S
a. True b. False Indicate whether the statement is true or false