During the Clinton administration,
a. government savings rose significantly.
b. total savings savings rose significantly.
c. private savings rose because an increase in the tax rates on upper-income Americans and more government regulation
d. both b and c.
A
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Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for coffee. What happens in this market if buyers expect the price of coffee to rise?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
The Acme Company is a perfect competitor in its input markets and a monopolist in its output market. The marginal product of labor is 20 and the price of Acme's output is $10. For Acme Company, the marginal revenue product of labor is
A) less than $10. B) $10. C) $20. D) less than $200. E) $200
Labor productivity is measured as:
a. the share of wages in national income. b. the change in labor to capital ratio. c. real output per labor hour. d. the change in output from hiring an additional unit of labor. e. the growth in the quantity of labor.
Comparing firms in perfectly competitive markets to monopoly firms, which produces more output?