By dividing the value of total domestic output (real Gross Domestic Product (GDP)) by the number of workers, economists derive
A) the net domestic product.
B) labor productivity.
C) the size of the labor force.
D) the rate of capital accumulation.
B
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The main goal of the Fair Trade Commissions Act was to
A. limit mergers and price-fixing contracts. B. make deceptive practices illegal. C. limit competition among small firms. D. make restraint of trade illegal.
Refer to Figure 12-4. What is the amount of its total fixed cost?
A) $1,080 B) $1,440 C) $2,520 D) It cannot be determined.
Suppose the government has a budget deficit of $2 billion. If the Ricardo-Barro effect is correct, then how much crowding out of investment occurs?
A) exactly equal to $2 billion dollars
B) more than $2 billion
C) some crowding out occurs, but less than $2 billion
D) No crowding out occurs and investment does not change.
E) No crowding out occurs because investment increases by $2 billion.
International trade
A. benefits consumers but harms producers. B. can only take place if a nation has a special natural endowment for the production of a good. C. will occur if a nation has a comparative advantage in the production of a good. D. represents trade between two governments.