Labor productivity is normally measured by
What will be an ideal response?
dividing total real domestic output by the number of workers or by the number of labor hours.
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Social insurance programs are designed to:
A. keep those in chronic poverty fed, clothed, and housed. B. protect against the temporary hard times that can lead to transient poverty. C. aid those communities that become impoverished. D. None of these is true.
Which of the following would cause an increase in quantity of wheat supplied?
A. The price farmers receive for their wheat rises B. The price firms pay for liability insurance falls C. New, better technology for farming is introduced D. The price of fertilizer farmers use in their fields falls
The benchmark default-free interest rate of the financial system is generally considered to be:
A) the federal funds rate B) the interest rate on the 10-year Treasury note C) the discount rate D) the 30-year fixed rate mortgage
If the government decides to spend an extra $5 billion on fighter jets that they would otherwise have spent on road construction, and the MPC = 0.75, what is the effect on AD? a. It has no effect
b. It increases by $5 billion. c. It increases by $15 billion. d. It increases by $20 billion.