The most direct effect of an increase in the growth rate of average labor productivity would be an increase in
A. the unemployment rate.
B. the long-run economic growth rate.
C. imported goods.
D. the inflation rate.
Answer: B
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The theory of regulatory behavior that predicts that the "regulators" eventually will become controlled by the "regulated" is called
A) the capture hypothesis. B) the the share-the-gains, share-the-pains hypothesis. C) the asymmetric information hypothesis. D) the market failure hypothesis.
The basic goals of total utility maximization, total profit maximization, and total welfare maximization explain most market activity.
Answer the following statement true (T) or false (F)
A firm is holding excess labor. This will
A. decrease the productivity of capital. B. reduce labor productivity. C. increase the amount of capital employed. D. increase labor productivity.
An efficient market is a market
A. in which profit opportunities are eliminated almost instantaneously. B. in which there are no opportunity costs. C. in which long-term profits are guaranteed. D. that deals in unlimited resources.