To measure how productive workers in the economy are, the best measure to use would be
a. real GDP.
b. GDP divided by the population.
c. GDP divided by the nation's capital stock.
d. GDP divided by hours worked.
d
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For country A, an import is a good produced in
A) country A and purchased by residents of country B. B) country A and purchased by residents of country A. C) country B and purchased by residents of country A. D) country B and purchased by residents of country B.
Suppose that the marginal propensity to save (MPS) equals 0.8. The value of the multiplier would be
A) 0.2. B) 0.8. C) 1.25. D) 5.0.
All else constant, an increase in the level of competition among firms would be expected to reduce the amount of X-inefficiency that exists in a particular industry
Indicate whether the statement is true or false
Which of the following is likely among the most concentrated industries in the United States?
A) printing and publishing B) soft drinks C) tobacco products D) household vacuum cleaners