Labor productivity can be increased if
A. the government mandates it.
B. the standard of living declines.
C. there is an increase in capital goods.
D. people spend less time developing skills before entering the workforce.
Answer: C
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The IMF lends at low interest rates and without preconditions
Indicate whether the statement is true or false
If the capital—labor ratio is above the Golden Rule capital—labor ratio, then in the steady state,
A) capital per worker is above its maximum. B) output per worker is less than it would be at the Golden Rule capital—labor ratio. C) investment per worker exceeds output per worker. D) consumption per worker is not at its maximum.
If a firm increases output when MR > MC, then:
A. profit will equal zero. B. profit will increase. C. profit will decrease. D. profit will remain the same.
Because inflation undermines money's unit of account function, government policy will try to keep it:
A. at zero. B. at either a low or a negative rate. C. at a low rate. D. negative.