Henry Ford's experiment with efficiency wages resulted in
A) a dramatic drop in productivity.
B) a dramatic increase in the turnover rate.
C) a reduction in the layoff rate.
D) new problems with the work force, like drunkenness and reckless driving.
E) no noticeable effects.
C
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If 50 percent of the population in a country is employed and average labor productivity equals $30,000, then real GDP per person equals:
A. $50,000. B. $30,000. C. $15,000. D. $60,000.
Suppose that the market demand curve is 
and the market supply curve is 
.
a. Calculate the equilibrium price and output level.
b. Suppose a price ceiling of 6 is imposed. What is the new equilibrium quantity transacted in the market?
c. How does the price consumers pay (including any marginal effort costs) compare to the price firms receive? d. What is the total cost of the additional effort exerted by consumers? What will be an ideal response?
Hughes and Cain (2011) talk about falling levels of investment during the Great Depression. What does the "investment" that they are talking about refer to?
(a) Engineering ideas behind the industry of the era (b) Money loaned by banks to consumers (c) Land, labor, and equipment used in production (d) Tools, equipment, machines, and buildings used in production
If, as a result of a change in demand in a perfectly competitive increasing-cost industry, price and quantity rise, demand must have risen
a. True b. False