For the period 1915 to 2005, educational improvements in the U.S. labor force contributed what percentage of real per-capita GDP growth?
A) 0.01
B) 15
C) 317
D) 34
B
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As the economy nears the end of an expansion, interest rates usually ________ and wages rise more ________ than prices
A) fall; rapidly B) fall; slowly C) rise; slowly D) rise; rapidly
A bond and stock differ in that a stock is an IOU for a fixed amount and a bond is a portion of ownership
a. True b. False Indicate whether the statement is true or false
If input costs remain the same as industry output expands, what would you expect to be the long-run impact of an increase in demand on an industry currently in long-run equilibrium? a. There will be more firms but the price will remain the same. b. There will be fewer firms but the price will remain the same. c. There will be more firms and the price will increase
d. There will be fewer firms and the price will decrease.
If there are no barriers to entry into an industry
A. long-run economic profits must be zero. B. both short-run and long-run economic profits must be zero. C. short-run and long-run profits must still be positive. D. short-run economic profits must be zero.