Compared to the 1950-1973 period, output per worker ________ in the 1974-1995 period.
A. increased more rapidly
B. decreased more slowly
C. increased more slowly
D. decreased more rapidly
Answer: C
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What will be an ideal response?
According to the misperceptions theory, the amount by which producers increase their output when the general price level rises depends on
A) the slope of the aggregate demand curve. B) the slope of the long-run aggregate supply curve. C) the size of the Solow residual. D) how much they think their relative prices have increased.
According to the infant industry argument, a new domestic industry needs protection because it has higher costs than established foreign competitors
a. True b. False Indicate whether the statement is true or false
The additional satisfaction that a consumer receives from one more unit of a good or service is known as _____
a. marginal utility b. total utility c. disutility d. profit e. the law of diminishing marginal utility