A new technological innovation would increase
A. the labor force.
B. labor hours worked.
C. labor productivity.
D. population growth.
Answer: C
You might also like to view...
The business cycle has two phases,
A) expansion and peak. B) recession and trough. C) peak and trough. D) recession and expansion. E) expansion and trough.
Which of the following statements concerning income and substitution effects is not true?
a. Income and substitution effects cause the demand curve to slope downward. b. When the price of a good falls, real purchasing power increases and consumers can purchase more of all goods. c. The substitution effect describes the situation in which more of the good whose price has fallen is purchased, and less of all other goods is purchased. d. A price decrease of one good cannot cause the income effect. e. Income and substitution effects are related to diminishing marginal utility and consumer equilibrium.
A business fluctuation when the pace of economic activity is slowing down is called
A. a contraction. B. a slowdown. C. a reduction. D. a depression.
A negative externality such as pollution can be corrected by
A) a subsidy to producers. B) a tax on producers. C) a subsidy to consumers. D) a stimulus to production.