There is ________ to how much increases in labor inputs can increase real GDP per capita, and there is ________ to how much increases in labor productivity can increase real GDP per capita
A) a limit; a limit
B) a limit; no limit
C) no limit; a limit
D) no limit; no limit
B
You might also like to view...
Which of the following is NOT a secondary market?
A) foreign exchange market B) futures market C) options market D) IPO market
Which of the following is not true of the statistical discrepancy in the balance of payments?
a. It is residual. b. It is a measure of net error in the balance of payments data. c. It is necessary because some transactions go unreported. d. An excess of credits in all other accounts must be offset by equivalent debits in the statistical discrepancy account. e. A difference between credits and debits is taken care of by changes in the official reserve transaction account.
The New York Yankees are the winningest team in all of professional sports history. When interviewed after sweeping a World Series, the Yankee manager always says that, "To me, this win is the sweetest of them all.". To an economist, it means that
a. the marginal utility of the last win is greater than the total utility of all previous Yankee World Series wins b. the law of diminishing marginal utility applies here c. the law of diminishing marginal utility doesn't apply here d. the manager engages in interpersonal comparisons of utility e. consumer surplus increases with each win
Suppose that Mexico and Canada both peg their currencies to the U.S. dollar. The relationship between the Mexican peso and the Canadian dollar is best described as a(n):
A) indirect peg. B) fixed exchange rate system. C) currency union. D) free trade area.