Falling energy prices could explain rising labor productivity in the 1990s
a. and the 1980s.
b. and the 1970s.
c. but not the 1980s.
d. but not the 1970s.
c
You might also like to view...
We say that money is a unit of account because it represents:
A. a certain amount of purchasing power held over time. B. something you can use to purchase goods and services. C. something you can directly offer, like any good or service, in exchange for some good or service you want. D. a standard unit of comparison.
An economic model is a realistic depiction of the operation of the economy
a. True b. False Indicate whether the statement is true or false
According to real business cycle theorists
a. technology creates unemployment by displacing labor and this can spark the beginning of an economy's downturn b. firms that don't adopt the new, available technology cannot compete with firms that do and end up being driven out of business c. business cycles are inevitable because technological change is inevitable d. technology displaces labor, which reduces labor productivity which causes prices, profit, and GDP to fall e. technology displaces labor, increases labor productivity, and raises prices and profit, which stimulates firms to create even more technology
When we move upward and to the left along a linear, downward-sloping demand curve, price elasticity of demand
a. first becomes smaller, then larger. b. always becomes larger. c. always becomes smaller. d. first becomes larger, then smaller.