Which economist believes all profits are derived from the exploitation of workers?
A. Frank Knight
B. Joseph Schumpeter
C. Karl Marx
D. John Maynard Keynes
C. Karl Marx
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From 1990 to 2004, among developed countries, a 1 percentage point increase in productivity growth was associated with increased per capita GDP growth of
A. 1.50%. B. 0.30%. C. 0.01%. D. 3.00%.
When attempting price regulation, a government faces what problem(s)?
A) limited information B) bribes C) uncooperative firms D) All of the above.
Suppose Japan is currently running a current account surplus. The most effective way of eliminating this current account surplus would be to temporarily ________ government purchases and ________ the domestic money supply.
A. increase; increase B. increase; decrease C. decrease; decrease D. decrease; increase
If the marginal product of labor is greater than the average product of labor, then the
A. marginal product must be increasing. B. marginal product must be decreasing. C. average product must be increasing. D. average product must be decreasing.