Some economists argue that the productivity slowdown of the mid-1970s to the mid-1990s was due to changes in oil prices that

A) increased production costs, causing firms to reorganize production to conserve energy, which reduced output per worker.
B) decreased production costs, causing firms to reorganize production to conserve energy, which reduced output per worker.
C) increased production costs, causing firms to reorganize production to conserve energy, which increased output per worker.
D) decreased production costs, causing firms to increase production, which reduced output per worker.


Answer: A) increased production costs, causing firms to reorganize production to conserve energy, which reduced output per worker.

Economics

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The payoff matrix below shows the payoffs (in millions of dollars) for two firms, A and B, for two different strategies, investing in new capital or not investing in new capital. An industry spy comes to firm B and claims to know what firm A has decided. Given that each firm already knows the payoff matrix, how much would this information be worth to firm B?

A. $0. B. $50 million. C. $70 million. D. $30 million.

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A) direct; traded B) direct; nontraded C) indirect; traded D) indirect; nontraded

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A minority of American women work outside of the home

a. True b. False Indicate whether the statement is true or false

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If muffins and bagels are substitutes, a higher price for bagels would result in a(n)

a. increase in the demand for bagels. b. decrease in the demand for bagels. c. increase in the demand for muffins. d. decrease in the demand for muffins.

Economics