Labor productivity is derived by dividing GDP by
a. itself
b. the capital-output ratio
c. national income
d. capital stock
e. the quantity of labor
E
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According to the Application, people in Morocco bring meteorites picked up in the desert to local dealers, who then sell them to the public through Websites. This process is a description of
A) a market system. B) a bureaucratic system. C) a barter economy. D) a centrally planned economy.
If the U.S. interest rate differential decreases, then in the foreign exchange market the
A) demand for dollars increases. B) quantity supplied of dollars decreases. C) supply of dollars increases. D) quantity supplied of dollars increases. E) supply of dollars decreases.
The Doing Business As name identifies a company for:
a. Bank accounts b. Sales c. Patents d. None of these
If the monopolist charges a high price, he will sell:
A. more than demanders want to buy at that price. B. less than if he were to charge a lower price. C. more than if he were to charge a lower price. D. as many as he supplies to the market at that price.