In the short run,
a. higher productivity means higher cost.
b. lower productivity means lower cost.
c. lower productivity means higher cost.
d. productivity and cost are unrelated.
c. lower productivity means higher cost.
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If the GDP deflator decreases from one year to the next, it can be concluded that the economy has experienced: a. stagnation. b. stagflation. c. inflation
d. deflation.
Which of the following best illustrates moral hazard?
a. After a person obtains life insurance, she takes up skydiving. b. A person obtains insurance knowing he is in poor health. c. A person holds stock only in very risky corporations. d. A person holds stocks from only a few corporations.
Which of the following is a component of aggregate demand?
A. Income B. Taxes C. Consumption D. Transfer payments
During the 1980s and early 1990s, it was believed that the natural rate of unemployment in the U.S. was equal to
A) 4%. B) 4.5%. C) 5%. D) 6.5%. E) 7%.