Which of the following is NOT an important factor affecting growth in labor productivity?
A) the saving rate
B) the speed with which prices fall
C) the growth rate of physical capital
D) the growth rate of labor productivity
B
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In the aggregate demand-aggregate supply model, the economy's price level is assumed to be ________.
A. constant, just like in the aggregate expenditures model B. variable, unlike in the aggregate expenditures model C. constant, unlike in the aggregate expenditures model D. variable, just like in the aggregate expenditures model
When you get a car loan, the lending institution usually sends a check directly to the car dealer. Such a practice
A) helps forestall moral hazard. B) helps forestall adverse selection. C) gives rise to moral hazard. D) gives rise to adverse selection.
If a nation experiences a significant improvement in technology that affects only Aggregate Supply, then its:
a. Average price level and real GDP should remain constant until there is a change in Aggregate Demand. b. Average price level and real GDP should fall. c. Average price level and real GDP should rise. d. Average price level should fall, and real GDP should rise. e. Average price level should rise, and real GDP should fall.
When a firm is able to put idle equipment to use by hiring another worker,
a. variable costs will rise. b. variable costs will fall. c. fixed costs will fall. d. both fixed costs and variable costs will rise.