The period between ________ is commonly regarded by economists as a "golden age" of rapid productivity growth in the United States
A) 1898 and 1929
B) 1920 and 1940
C) 1933 and 1965
D) 1948 and 1973
D
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Which of the following should be used to compare the incomes of countries with equal population but different unemployment rates?
A) Gross national product B) PPP-based measure of income per capita C) Income per worker D) Exchange rate-based measure of income per capita
In the above figure, an innovation that increases the demand for high-skilled workers and decreases the demand for low-skilled workers will
A) reduce the amount by which WH exceeds WL. B) increase the amount by which WH exceeds WL. C) shift the SH curve leftward. D) shift the SL curve rightward.
Assume that the reserve—deposit ratio is 0.2. The Federal Reserve carries out open-market operations, purchasing $1,000,000 worth of bonds from banks. This action increased the money supply by $2,600,000. What is the currency—deposit ratio?
A) 0.2 B) 0.3 C) 0.4 D) 0.5
Which of the following is true at the point where diminishing returns set in?
a. Both marginal product and marginal cost are at a maximum. b. Both marginal product and marginal cost are at a minimum. c. Marginal product is at a maximum and marginal cost is at a minimum. d. Marginal product is at a minimum and marginal cost is at a maximum.