Prior to the Great Recession of 2007-2009, labor input in the U.S. was growing at nearly:
a. 1 percent per year
b. 2 percent per year.
c. 2.5 percent per year.
d. 3 percent per year.
a
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Economists believe that countries recently suffering hyperinflation have experienced
A) reduced growth. B) increased growth. C) reduced prices. D) lower interest rates.
According to the quantity theory of money, the growth rate of which of the following is zero?
A) money supply B) velocity C) real GDP D) price level
With regard to agricultural productivity (grain crops) in the post-Civil War period (1870–1910),
(a) output per acre went up significantly. (b) output per man-hour went up significantly. (c) output per unit of energy input went up significantly. (d) all of the above occurred.
If M increases and V decreases: a. nominal GDP increases
b. nominal GDP decreases. c. nominal GDP stays the same. d. there is an indeterminate effect on nominal GDP.