Which of the following countries had the highest hourly manufacturing compensation costs in 2009?
A. The United States
B. Japan
C. China
D. Germany
Answer: D
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The historical record for the United States since 1900 shows
A) mostly positive economic growth, with two substantial periods of negative economic growth. B) economic growth for about half the years and economic decline for the other half. C) growth until 1970 and then a period of constant per capita real GDP. D) continuous economic growth, although at different rates, throughout the entire century.
Governments can impede economic growth for many reasons. Which of the following is not a major reason?
a. Government borrowing can crowd out private investment. b. High taxes can reduce consumption & investment, and they can reduce the incentive to work. c. Government projects may have relatively low marginal returns. d. Governments may spend more than they earn in tax revenues. e. Regulation may damage production incentives.
In a free market economy, current consumption, saving and investment decisions
A) shape the future course of the national economy. B) are necessarily controlled by big businesses. C) require protection from foreign forces if individuals desire wealth accumulation. D) are controlled largely by the government.
________ is the price between two companies that most accurately reflects the market price.
A) Economy price B) Promotional price C) Arm's length price D) Average cost