________ is likely to result in an increase in the total efficiency units of labor in an economy
A) A decrease in the capital-labor ratio in the economy
B) An increase in the unemployment rate in the economy
C) A decrease in the labor force participation rate in the economy
D) An increase in the productivity of each worker in the country
D
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A common misconception about supply is that
A. supply depends on many other variables B. price is a major determinant of quantity. C. it is a fixed amount. D. quantity cannot be determined in advance. E. All of these responses are correct.
Which of the following is a statement of positive economics?
a. Government control of rent is a fair way to help poor people afford housing. b. Government control of rent keeps landlords from charging too much rent. c. Government control of rent decreases the number of new apartments constructed. d. Government control of rent is an injustice.
The structural deficit is
A. The deficit that would exist if the economy were at full employment. B. Equivalent to the GDP gap. C. Computed on the basis of the current value of automatic stabilizers. D. Determined by the president of the United States.
Which of the following firms have no market power?
A. clothing companies B. fast food chains such as McDonald's C. theme parks D. gold panners during the gold rush