Which of the following will decrease an economy's capital-labor ratio?
a. improvements in technology
b. decrease in the quantity of laborers
c. increase in prices
d. decrease in consumption
e. decrease in the capital stock
E
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Which of the following would not account for the observed wage differential between African Americans and whites in the United States?
a. differences in the quantity of on-the-job training b. differences in the quality of education c. discrimination by employers d. differences in job experience e. differences in access to public assistance programs
An increase in the required reserve ratio ____ excess reserves and _____ the money supply.
A. increases; decreases B. decreases; increases C. decreases; decreases D. increases; increases
The structural deficit is defined as
A. that part of the deficit that is so hard to remove that it is never reduced. B. the portion of the budget deficit that occurs because the economy is not at full employment. C. the hypothetical deficit the economy would have under current fiscal policies if the economy were operating near full employment. D. the actual budget deficit that exists in the economy.
If the marginal cost of producing the next unit of output exceeds the average total cost, then:
A. the average total cost curve is increasing. B. the marginal cost curve is at its minimum. C. the average total cost curve is decreasing. D. the average total cost curve is at its minimum.