After 1979 there was an upsurge in labor productivity growth in the U.S. ________ sector, mainly coming from the ________ industry
A) manufacturing, computer
B) manufacturing, machine tool
C) nonmanufacturing, edible oil
D) nonmanufacturing, financial services
E) nonmanufacturing, book publishing
A
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The principal of optimization at the margin states that:
A) moving toward the optimal alternative makes the decision maker worse off, and moving away from it, makes the decision maker better off. B) an optimal alternative has the lowest indirect costs in comparison to other feasible alternatives. C) an optimal alternative has the highest net benefits in comparison to other feasible alternatives. D) moving toward the optimal alternative makes the decision maker better off, and moving away from it makes him worse off. Assume that there are five apartments located at different distances from an individual's place of work: very close, close, far, very far, and extremely far. The individual makes his choice by studying the change in costs as he moves farther from his place of work. She has to choose between renting one of the five apartments. The movement from apartment Very Close to Close has a marginal cost of -$60, a movement from apartment Close to Far has a marginal cost of -$40, a movement from apartment Far to Very Far has a marginal cost of -$10, and a movement from apartment Very Far to Extremely Far has a marginal cost of $20.
Refer to Table 10-1. If Keegan can drink all the bubble tea he wants for free, how many glasses will he consume?
A) 4 glasses B) 5 glasses C) 6 glasses D) 7 glasses
If diminishing marginal utility holds, and a person consumes less of a good, then all else being equal
a. the price of the good will rise b. total utility will rise c. marginal utility will rise d. expenditure on the good will increase e. marginal utility will decline
After identifying one combination of interest rates and GDP for which the demand for money is equal to the supply of money (equilibrium), to maintain the equilibrium if GDP rises:
A) this would not affect interest rates. B) interest rates would have to fall. C) interest rates would have to rise. D) interest rates would not be in parity with foreign rates of interest.