Whenever average output produced per worker during a specific time-period increases, then
A) leisure time increases.
B) nominal GDP decreases.
C) labor productivity increases.
D) the standard of living goes down.
C
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Property rights are relatively secure and free from the threat of nationalization in the HPAE
Indicate whether the statement is true or false
The fixed exchange rate regime established at a meeting in New Hampshire in 1944 has been known as the
A) General Agreement on Tariffs and Trade. B) Bretton Woods system. C) International Settlement Fund. D) Balance of Payments Compliance Accord.
Monetary and price instability will
What will be an ideal response?
According to Okun's Law, if unemployment rises by 5 percent while imports and exports increase at roughly the same rate, the economy will lose output equal to
A. 1 percent. B. 10 percent. C. 2 percent. D. 5 percent.