Compared to the 1948 to 1973 period, the period from 1973 to 1995 can be characterized as a period of
a. faster real GDP growth.
b. faster labor productivity growth.
c. slower labor productivity growth.
d. lower labor force growth.
c
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Refer to the scenario above. Suppose a country is currently at point C. Which of the following will happen if it experiences an improvement in technology?
A) It will move from point C towards point D. B) The curve will shift upward. C) It will move from point C toward point A. D) The curve will shift downward.
Why is the benefit of something measured by what you are willing to give up?
What will be an ideal response?
If the production function exhibits diminishing marginal product, the total cost function gets steeper as the quantity of output increases
a. True b. False Indicate whether the statement is true or false
According to economist Robert Barro, if parents are concerned about the welfare of their children, then each adult generation will voluntarily reduce the burden of federal debt on future generations, and thus forego the stimulative effect of deficit spending in the present
Indicate whether the statement is true or false