Which of the following statements is true?
a. Productivity is calculated as hours worked divided by output produced.
b. Americans have a higher standard of living than Indonesians because American workers are more productive than Indonesian workers.
c. Both A and B are correct.
d. None of the above are correct.
b
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Illegal immigrants from Mexico who work continuously in the U.S. have the following characteristics, except:
A. They are mostly working in farms B. They make up a majority of the illegal immigrants in the U.S. C. On average, they have higher educational levels than the Mexicans who don't migrate D. They do not frequently move back and forth across the border
In the short run, an increase in the money supply causes interest rates to
a. increase, and aggregate demand to shift right. b. increase, and aggregate demand to shift left. c. decrease, and aggregate demand to shift right. d. decrease, and aggregate demand to shift left.
An office supply store sells a ream of printer paper at a fixed price of $4.50. Which of the following is a term used by economists to describe the money received from the sale of an additional ream of paper?
A) marginal revenue B) gross earnings C) pure profit D) marginal costs E) net benefit
A decrease in the supply of labor could be caused by
A. increased wage rates in another industry. B. more job flexibility. C. wage rates falling in another industry. D. better working conditions.