In the 1970s and 1980s our productivity
A. increased at an increasing rate.
B. Increased at a decreasing rate.
C. Stayed about the same.
D. decreased.
B. Increased at a decreasing rate.
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Charlene is willing to pay $5.00 for a sandwich. If Charlene must pay ________ for a sandwich, she ________
A) $4.00; does not receive consumer surplus B) $4.00; receives consumer surplus C) $6.00; receives consumer surplus D) $6.00; receives a marginal cost
The equation for the balanced budget multiplier can be written as
a. (1/1 – b) – (b/1 – b). b. (1/1 + b) + (? b/1 – b). c. (1/1 – b) + (b/1 + b). d. (1/1 + b) – (b/1 + b).
For a perfectly competitive firm with a known marginal cost and random demand, as the expected marginal revenue decreases, the profit-maximizing quantity ________.
A) decreases B) increases exponentially C) does not change D) increases
The statistic called Gross Output (GO) is bigger than GDP, because GO sums up the values in all stages of a productive economy, whereas GDP accounts only for the final stage.
Indicate whether the statement is true or false