From 1973 to 1995, productivity of labor in the U.S
a. declined because of reduced capital formation.
b. declined because of slower technological improvement.
c. increased because of expanded technological improvement.
d. increased because of expanded technological improvement.
b
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Suppose the economy is at full employment and firms become more pessimistic about the future profitability of new investment. Which of the following will happen in the short run?
A) The aggregate demand curve will shift to the right. B) Unemployment will rise. C) Prices will rise. D) Output will rise.
The South's transportation problem was primarily due to
a. a shortage of mules and horses. b. a limited rail network. c. a shortage of inland shipping. d. the lack of a merchant marine.
By enjoying more consumer goods today, the economy spurs growth in future consumer goods
a. True b. False Indicate whether the statement is true or false
As income rises, the demand for inferior goods
A. rises. B. falls. C. stays about the same. D. cannot be determined.