Which of the following will likely cause an increase in output per worker?
A) an increase in education expenditures
B) an increase in the saving rate
C) an increase in on-the-job training
D) all of the above
D
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A decrease in demand with the supply held constant leads to:
a. an increased equilibrium price and a decreased equilibrium quantity. b. a decreased equilibrium price and a decreased equilibrium quantity. c. an increased equilibrium price and an increased equilibrium quantity. d. a decreased equilibrium price and an increased equilibrium quantity.
Partially-flexible exchange rates:
A. produce fewer exchange rate changes in general than fixed exchange rates. B. provide governments with a more independent monetary policy than flexible exchange rates. C. mix market forces with government intervention in a way that permits the exchange rate to respond to long-term balance of payments problems. D. mix market forces with government intervention in a way that allows exchange rates to respond to speculative pressures.
Assuming labor is a variable input, an increase in labor productivity will result in
A. An upward shift in the ATC curve. B. A downward shift in the production function. C. A downward shift in the MPP curve. D. A downward shift in the MC curve.
Suppose the United States is experiencing a balance of payments surplus. To prevent the exchange rate from appreciating, the U.S. Treasury must:
A. sell foreign currency and buy dollars. B. sell dollars and buy foreign currency. C. sell both dollars and foreign currency. D. buy both dollars and foreign currency.