Which of the following would increase labor productivity?
a. A decrease in the amount of capital per unit of labor
b. A change in technology that improves the quality of capital
c. A decrease in the unemployment rate
d. An increase in the number of inexperienced workers entering the labor force
e. A decrease in the quality of capital
b
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The purchase and sale of government securities by the Fed is called ________.
A. money market transactions B. federal funds market C. open market operations D. term auction facility
An agency that regulates labor markets is the
A) Equal Employment Opportunity Commission. B) Environmental Protection Agency. C) Federal Trade Commission. D) Consumer Product Safety Commission.
In response to the global recession of 2008 and 2009, governments around the world
A. Expanded public works spending and income transfer programs. B. Expanded income transfer programs but reduced public spending programs. C. Reduced public works spending. D. Reduced income transfer programs.
Refer to the diagram. Which of the following is a normative statement?
A. Point C is superior to point B because it is important to enhance the future of society.
B. If society is initially at point C, it must sacrifice 6 units of bread to obtain one more unit of tractors.
C. If society produces 2 units of tractors and 12 units of bread, it is not using its available resources with maximum efficiency.
D. Other things equal, the combination of outputs represented by point D will result in more rapid economic growth than will the combination represented by point C.