Total factor productivity is
A) the quantity of output per worker.
B) the quantity of output per unit of capital.
C) the ratio of inputs divided by outputs.
D) the quantity of output per unit of input.
D
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Olive oil producers want to sell more olive oil at a higher price. Which of the following events would have this effect?
A) an increase in the price of land used to plant olive trees B) an increase in the price of olive oil presses C) research finds that consumption of olive oil reduces the risk of heart disease D) a decrease in the cost of transporting olive oil to markets
Social Security began as a "pay-as-you-go" system, meaning that payments to current retirees were paid
A) from taxes collected from current workers. B) as the government collected revenues from tariffs and excise taxes in the years Social Security payments were made. C) as long as the government had funds available. D) from taxes collected from retired workers.
In nations where conventional taxes are difficult to collect, the inflation tax is ________, which tends to ________ the inflation rates of those nations
A) also difficult to collect, aggravate B) also difficult to collect, hold down C) a realistic alternative, aggravate D) a realistic alternative, hold down
In the loanable funds market, the price that borrowers must pay for earlier availability is the
a. inflation rate. b. wage rate. c. interest rate. d. exchange rate.