Labor productivity in the U.S. in the periods 1973-1995 and 1995-2012 grew at average rates of:
A. 7.5% and 5.2%, respectively
B. 1.5% and 2.4%, respectively
C. 3.1% and 1.5%, respectively
D. 4.1% and 4.3%, respectively
B. 1.5% and 2.4%, respectively
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Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico. This subsequently drove up natural gas, gasoline, and heating oil prices. As a result, this should
A) shift the short-run aggregate supply curve to the right. B) shift the short-run aggregate supply curve to the left. C) move the economy down along a stationary short-run aggregate supply curve. D) move the economy up along a stationary short-run aggregate supply curve.
The larger the fraction of an investment financed by borrowing, the greater the potential for both profits and losses from that investment
a. True b. False Indicate whether the statement is true or false
When an innovation is created by one firm in a perfectly competitive market,
a. the market price will rise b. less output will be produced by its competitors c. the long-run equilibrium price remains the same but the economic profit of its competitors falls d. some firms leave because the price will fall e. other firms will imitate the innovator
Suppose you and your friend have decided to go into a very lucrative joint venture together, which would make $5,000 for both of you. Nevertheless your friend, who does not need the money as much as you, say he will not cooperate with you unless he gets at least 90% of the earnings. It will be in your advantage not to capitulate to your friend's demands as long as:
A. your friend does not know anything about your goals. B. you cared only about the absolute distribution of the winnings. C. you follow a self-interest goal. D. you do not follow an egoistic goal.