During World War II, the increasing productivity of workers who built ships was due primarily to
A) human capital accumulation through schooling and training.
B) human capital accumulation by repeatedly doing the same tasks.
C) discoveries of new and better technologies.
D) investments by shipyards in new capital equipment.
B
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Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for rice. What happens in this market if buyers expect the price of rice to fall?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
For a major country with extensive capital flows, what is the effect of an increase in interest rates?
a. There will be an inflow of capital, a currency depreciation, and increased net exports. b. There will be an inflow of capital, a currency depreciation, and reduced net exports. c. There will be an outflow of capital, a currency depreciation, and increased net exports. d. There will be an inflow of capital, a currency appreciation, and reduced net exports.
In order to borrow money to finance a deficit, the federal government
A. sells government securities. B. must raise taxes. C. negotiates with large banks. D. cuts spending.
According to the Taylor rule, the Fed should set the target for the federal funds rate equal to the sum of the equilibrium real federal funds rate, the current inflation rate, one-half times the ________, and one-half times the ________
A) interest rate gap; inflation gap B) interest rate gap; output gap C) inflation gap; output gap D) unemployment gap; government-spending gap