Related to the Economics in Practice on page 154: According to the Economics in Practice feature, productivity of the firms participating in the United States Technical Assistance and Productivity Program
A. started off declining for the first decade but then grew during the second decade.
B. grew only slightly in the first few years and then stopped growing in the years that followed.
C. grew by 15 percent in the first year and continued to grow for more than a decade afterward.
D. doubled during the first two years and then declined for the rest of the decade.
Answer: C
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If the interest rate increases, the money demand curve
a. shifts to the right. b. shifts to the left. c. neither shifts nor changes slope. d. gets steeper. e. becomes horizontal.
When external costs are present,
A) competitive, unregulated markets are efficient. B) transaction costs will be high. C) a tax might be able to create efficiency. D) property rights have already been established.
The economy has gone into a recession. You have majored in computer science and, because of the recession, have difficulty in finding a job. Should you go back to school and get a second major?
A) No, the recession will have no impact on my ability to get a job or my future income. B) No, the recession will most likely be short-lived and I can get a job after it is over. C) Yes, the recession will lower income in my field permanently. D) Yes, the recession will ensure that you will never find a job as a programmer.
The precise terms of each futures contract are
A) negotiated by the long and the short. B) set by the short position. C) set by the long position. D) established by the exchange on which the trade takes place.