Which of the following is not one of the three sources of technological change?
A) better machinery and equipment
B) better means of organizing and managing production
C) additional amounts of existing capital
D) increases in human capital
C
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Slower growth in labor demand in combination with increases in labor supply explains ________ accompanied by ________.
A. a slowdown in real wage growth; increasing wage inequality B. a slowdown in real wage growth; a decline in employment C. accelerated real wage growth; a decline in employment D. a slowdown in real wage growth; rapid employment growth
For perfectly competitive firms, marginal revenue ________ price; for monopolists marginal revenue ________ price.
A. equals; is greater than B. equals; is less than C. is less than; equals D. equals; equals
Which of the following will not cause a shift in the demand for resource X?
A. an increase in the productivity of resource X B. a decrease in the price of substitute resource Y C. an increase in the price of the product resource X is producing D. a decline in the price of resource X
With a nominal interest rate of 4%, an expected inflation rate of 1%, and interest income taxed at a rate of 25%, what is the expected real after-tax interest rate?
A. 3% B. 1% C. 0% D. 2%