Average labor productivity is the
A) amount of workers per machine.
B) amount of machines per worker.
C) ratio of employed to unemployed workers.
D) amount of output per worker.
D
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How does the text distinguish between coercion and persuasion?
A) Coercion uses force; persuasion uses reasoning. B) Coercion uses violence; persuasion is peaceful. C) Coercion cannot make everyone better off, but persuasion can. D) Coercion is evil, and persuasion is good. E) Coercion induces cooperation by threatening to reduce options, persuasion by promising to expand options.
When the price of one product falls,
A. consumers’ real income will increase. B. consumers will buy less of that product. C. consumers will not change their buying patterns. D. consumers’ real income will decrease.
The trade-off between coordinating or not coordinating policies for central banks is measured in terms of
A) inflation and the lowered effectiveness of policies. B) wage inflation and increased effectiveness of policies. C) speculative pressure and intra-marginal adjustments. D) fixed and floating exchange rates.
In the United States, an official dating of business cycles
a. is executed by the Federal Reserve Bank of New York. b. originates with the Department of Commerce. c. was started by the Bureau of Labor Statistics Institute. d. is performed by the Business Cycle Dating Group of the National Bureau of Economic Research.