Because of the productivity slowdown in the United States from the mid-1970s through the mid-1990s
A) the standard of living did not change.
B) the standard of living increased in the United States.
C) real GDP per capita grew more rapidly.
D) real GDP per capita grew more slowly.
D
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Refer to Figure 9.1. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of $20, consumer surplus will
A) fall by $200. B) fall by $300. C) remain the same. D) rise by $200. E) rise by $300.
From the perspective of a bank, the objectives of ________ and ________ are at odds with one another
a. profitability; cost minimization b. accepting deposits; making loans c. asset liquidity; the holding of bank reserves d. liquidity; profitability
Net worth is calculated by:
a. Assets – Liabilities b. Assets + Liabilities c. Liabilities – Assets d. Liabilities – Depreciation
Explain why the marginal product of labor shown in Moe’s Production Function with One Variable, Labor, is higher with two employees than it is with six.
What will be an ideal response?