From 1979 to 2011, which country had the lowest growth rate of GDP per hour of work?
a. Singapore
b. United States
c. France
d. Japan
b
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Because there are numerous choices for fast food purchases, the price elasticity of demand for Taco Bell food is likely
A) inelastic. B) unitary elastic. C) perfectly inelastic. D) elastic.
If a perfectly competitive firm has economic profits greater than zero, then we know that
A) the firm's industry is not in long-run equilibrium. B) the firm's industry is in long-run equilibrium. C) the firm is producing at the bottom of the average total cost curve. D) the firm will reduce output.
Suppose the game is infinitely repeated. What strategies will each firm utilize?
a. Firm A will charge a lower price and firm B will charge a lower price b. Firm A will charge a higher price and firm B will charge a lower price c. Firm A will charge a lower price and firm B will charge a higher price d. Firm A will charge a higher price and firm B will charge a higher price
The level of household debt incurred over the two decades leading up to the 2008 crisis was only sustainable if interest rates:
A. remained low and housing prices remained high. B. and housing prices both remained high. C. and housing prices both remained low. D. remained high and housing prices remained low.