Labor productivity can best be calculated as
A) real Gross Domestic Product (GDP) / Gross Domestic Product (GDP) price index.
B) real Gross Domestic Product (GDP) / number of workers.
C) number of workers / hours of work.
D) real wages / hours of work.
B
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Which of the following is a macroeconomic question?
A) Why did a leading computer manufacturer establish call centers in India? B) Should the government put a tax on alcohol in an attempt to assist in the funding of support groups like Alcoholics Anonymous? C) Should we have a constitutional amendment requiring the government to implement a national consumption tax to replace the current income tax? D) Why does a pharmaceutical manufacturer try to lower its production costs?
Refer to Table 9-11. All of the following are terms of trade that could possibly benefit both countries except
A) 1 hat : 1 clock B) 1 hat : 3/5 of a clock C) 1 hat : 1.5 clocks D) 1 hat : 2.5 clocks
A shift in the consumption function:
a. is based on the marginal propensity to consume. b. can be caused by a change in the price level. c. can be caused by a change in GDP. d. None of these.
Suppose that the demand for apples in Washington is elastic and the supply is inelastic. If the government of Washington passes a law prohibiting the use of synthetic pesticides that increases the marginal and average costs of producing apples, then:
a. the price of Washington State apples will decline. b. Washington will stop producing apples, and New York apple growers will benefit. c. apple growers will pass most of the increased costs on to consumers in the form of higher apple prices. d. apple growers will keep prices constant but reduce costs by advertising less. e. apple growers will bear most of the increased costs of regulation, and prices will increase only slightly.