If the growth rate of employment is positive but labor productivity remains unchanged, which of the following is likely to happen?
a. Real GDP will either decrease or remain constant.
b. Real GDP will decrease
c. Real GDP will remain constant.
d. Real GDP will either increase or remain constant.
e. Real GDP will increase.
e
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The limits of the terms of trade between two countries are determined by those countries' opportunity costs of production
a. True b. False
When price is $6
A. there is a surplus.
B. there is a shortage.
C. there is both a surplus and a shortage.
D. there is neither a surplus nor a shortage.
The ________ of the demand curve corresponds to the idea that the marginal utility for the first few goods is ________.
A. bottom; higher B. top; higher C. bottom; lower D. top; lower
In the Stackelberg model, the leader has a first-mover advantage because it
A) has lower costs than the follower.
B) commits to producing a larger quantity.
C) reacts to the follower's decision.
D) differentiates its output.