Over long periods of time, labor productivity growth rates must differ by at least ____ percent to yield significant differences in standards of living
a. 1
b. 5
c. 10
d. 15
a
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If robotics and factory automation become more widespread in an industry and all else is held constant
A. the demand for labor should decrease in that industry and the wage rate should increase. B. the demand for labor should increase in that industry and the wage rate should decrease. C. both the demand for labor in that industry and the wage rate should decrease. D. both the demand for labor in that industry and the wage rate should increase.
If the cross elasticity of demand between Coke and Pepsi is 2.02, then Coke and Pepsi are
A) complements. B) substitutes. C) normal goods. D) inferior goods. E) Both answers B and C are correct.
The quantity equation becomes the basis for a theory when we assume that velocity of money is constant
Indicate whether the statement is true or false
How is net national product (NNP) calculated?
a. Saving is subtracted from the total income of a nation's citizens. b. Saving is added to the total income of a nation's citizens c. Depreciation losses are subtracted from the total income of a nation's citizens. d. Depreciation losses are added to the total income of a nation's citizens.