Labor productivity measures
A) the growth of real output. B) real output per labor hour.
C) the growth in the quantity of labor. D) the growth of per capita real GDP.
B
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Answer the next question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt. Government SpendingTax RevenuesGDPYear 1$450$425$2,000Year 25004503,000Year 36005004,000Year 46406205,000Year 56805804,800Year 66006205,000If year 1 is the first year of this nation's existence and year 4 is the present year, the public debt as a percentage of GDP in year 4 is
A. 3.9%. B. 2.5%. C. 1.39%. D. 7.5%.
If an individual moves money from currency to a demand deposit account
A) M1 decreases and M2 stays the same. B) M1 stays the same and M2 increases. C) M1 stays the same and M2 stays the same. D) M1 increases and M2 stays the same.
An emissions fee equal to the optimal Pigouvian tax on coal has the effect of _____________ the externality associated with the burning of coal, while ensuring that the marginal benefit of pollution _________ the marginal cost of pollution.
a. worsening, equals b. lessening, is greater than c. internalizing, is less than d. internalizing, equals
The benefit of saving some American jobs in specific industries protected from foreign competition
A. has fallen in recent years. B. is much less than the costs to the whole American economy. C. is much greater than the costs to the whole American economy. D. has risen in recent years.