If the saving rate increases, a country's growth rate of real GDP per hour of labor ________ and capital per hour of labor ________
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
A
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Refer to the table below. According to the table, Corey has the absolute advantage in: Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. neither making nor delivering pizza. B. making and delivering pizza. C. delivering pizza. D. making pizza.
If a good has an income elasticity of demand greater than 1, one might classify that good as
A) a necessity. B) a luxury. C) unusual. D) inelastic.
Refer to Figure 10.1. Suppose that the government decides to limit monopoly power with price regulation. If the government sets the price at the competitive level, it will set the price at ________
A) P1 B) P2 C) P3 D) P4 E) none of the above
When communication is given from the CEO to his subordinates it is called
a. top down b. bottom up c. hub d. spoke