Labor productivity is affected by each of the following, except:
a. technological innovation.
b. change in capital stock.
c. change in average age of the workers.
d. change in educational levels.
e. cultural background and ethnicity.
e
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If fiscal policy implementation causes some crowding out, the ________ shift of the aggregate demand curve will be ________ than it would have been if no crowding out had occurred.
A. leftward; larger B. rightward; smaller C. rightward; larger D. leftward; smaller
When a firm is hiring an input such that the marginal revenue product of the input is equal to the marginal factor cost of the input, the firm
A) should be expanding output. B) is hiring too little of the input. C) is maximizing economic profit. D) is producing too much output.
Which of the following states the definition of supply?
a. More of a good is supplied at a lower price. b. There is a positive relationship between the price of a good and the quantity that buyers purchase. c. There is a positive relationship between the price of a good and the quantity offered for sale by suppliers. d. There is a negative relationship between the price of a good and the quantity offered for sale by suppliers.
Suppose the Congress and president decreased the maximum annual contributions limits to retirement accounts and at the same time reduced the budget deficit. What would happen to the interest rate?
a. It would decrease. b. It would increase. c. It would stay the same. d. It might do any of the above.