Darby (1984) argues that the problem with declining productivity of the 1970s was not an issue. He adjusted labor productivity upward to take into account which of the following?
(a) The immigration policies of the 1970s restricted the free migration of highly qualified workers.
(b) More men than women re-entered the workforce.
(c) The overall labor force was relatively young and comprised of individuals still maturing in
their knowledge base and skill sets.
(d) The labor force of the 1970s was older, more senior and had gained more experience than
in the past.
(c)
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In the decade leading up to the financial crisis of 2008, U.S. housing prices:
A. were falling sharply. B. were rising rapidly. C. increased slowly. D. did not change.
For each of the following changes, show the effect on the demand curve and state what will happen to market equilibrium price and quantity in the short run
a. Consumers expect that the price of the good will be higher in the future. b. The price of a substitute good rises. c. Consumer incomes fall, and the good is normal. d. Consumer incomes fall, and the good is inferior. e. A medical report is published showing that this good is hazardous to your health. f. The price of the good rises.
Suppose the total population of an economy is 150 million, the labor force is 100 million, and the unemployment is 94 million. The unemployment rate is _____
a. 6 percent b. 80 percent c. 94 percent d. 10 percent e. 15 percent
A depreciation of the U.S. dollar against foreign currencies tends to __________ U.S. net exports and shift the U.S. AD curve to the __________
A) raise; right B) raise; left C) lower; right D) lower; left