Labor productivity is defined as
A. the amount of input per worker.
B. the amount of workers per unit of input.
C. the increase in output per unit of machinery.
D. the amount of output per worker.
Answer: D
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From a microeconomic perspective, the relatively low U.S. household saving rate contributes to an increasing inequality of wealth resulting from:
A. the higher saving rate of low-income households. B. the higher national saving rate. C. the lower saving rate of low-income households. D. the lower national saving rate.
Which of the following unemployment rates can be negative?
A) the official unemployment rate reported by the Bureau of Labor Statistics B) the natural unemployment rate C) the cyclical unemployment rate D) the seasonal unemployment rate
The total value of all final goods and services, measured in current market prices, produced in an economy during a year is
a. total domestic product b. gross domestic product c. real GDP d. gross value product e. total final product
Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is:
A. 0.3 percent. B. 1.1 percent. C. 1.4 percent. D. 1.7 percent.