An example of negative productivity shocks that could cause recessions is
a. a hurricane, which destroys capital.
b. a decrease in the price of oil.
c. reductions in defense spending.
d. all of the above.
e. both a and b.
A
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Real GDP is the dollar value of all goods and services produced in an economy.
Answer the following statement true (T) or false (F)
The velocity of money is the:
a. rate at which the price index for consumer goods rises. b. multiple by which an increase in government expenditures will cause output to expand. c. average number of times a dollar is used to buy goods and services included in GDP. d. number of times a dollar is taken out of the country during a year.
Knowledge workers have
A) relatively less bargaining power. B) relatively more bargaining power. C) constant bargaining power. D) the management structure above them.
European currencies taken out of circulation and replaced with the Euro in
A) 1992. B) 1997. C) 1999. D) 2004. E) none of the above