The fastest growing productivity increases in the United States have occurred in the personal services sector.
Answer the following statement true (T) or false (F)
False
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The input that is generally hard to measure directly and consequently can be reasonably estimated with the growth accounting equation is:
A. land. B. labor. C. physical capital. D. technology.
If the firm represented in the diagram is currently producing and selling Q a units, what is the price charged?
A. P0 B. P1 C. P2 D. P3
If the marginal cost curve is below the average variable cost curve, then
A) average variable cost is increasing. B) average variable cost is decreasing. C) marginal cost must be decreasing. D) average variable cost could either be increasing or decreasing.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.