A productivity slowdown could result from
a. an increase in capital formation
b. an increase in the number of unskilled and inexperienced workers.
c. a decrease in the relative size of the service sector.
d. any of the above.
b
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The marginal physical product of labor is measured in units of
a. dollars (as in revenue) b. workers hired c. hours worked d. output e. the wage rate
A horizontal line always has a slope of one
a. True b. False Indicate whether the statement is true or false
A statement of the stocks of a country's foreign assets and foreign liabilities at a point in time represents the country's
A. balance of payments. B. financial account balance. C. government budget surplus or deficit. D. international investment position.
Approximately how much of aggregate national income in the United States is spent on health care today?
A) 3 percent B) 45 percent C) 17 percent D) 34 percent