By the late 1990s, the growth rate of total factor productivity in the United States _____
a. averaged about 1%
b. averaged between 3 and 4%
c. averaged between 6 and 8%
d. averaged between 10 and 15%
e. averaged above 20%
a
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A perfectly inelastic supply curve is: a. upward sloping to the right
b. downward sloping to the left. c. horizontal. d. vertical.
Which of the following would cause the consumption function to shift downward?
a. A decrease in taxes b. A decrease in interest rates c. Consumers become more pessimistic about the future d. Consumers become more optimistic about the future e. None of the above
A useful theory must
A. apply to every conceivable situation. B. be broadly applicable. C. be agreed upon by all economists. D. not be able to be refined.
The Bureau of Labor Statistics counts a member of a surveyed household as an adult if that person is at least
a. 14 years old. b. 16 years old. c. 18 years old. d. 21 years old.