Increases in productivity per person lead to increases in per capita income, which we call:
A. economic growth.
B. GDP per capita.
C. the GDP deflator.
D. the producer productivity index.
A. economic growth.
You might also like to view...
A favorable supply shock shifts the production function curve ________ and the labor demand curve ________
A) upward, upward B) upward, downward C) downward, upward D) downward, downward
Suppose a publisher faces the following costs of producing 10,000 newspapers each month: $5,500 cost of labor; $2,200 monthly mortgage payment; $250 cost of electricity to run the printing presses; $800 for ink and paper; and $200 in city property taxes (based on the value of the building and land). Its total variable costs are:
a. $8,950. b. $8,750. c. $6,550. d. $6,300. e. $5,500.
Evidence seems to indicate that the demand for many agricultural products
A) has increased much more than supply over the years. B) is relatively elastic. C) is relatively inelastic. D) is relatively income elastic. E) b and d
Engineering, sales, maintenance are examples of ___________
A. occupations B. job families C. job dimensions D. job groups