Which of the following was not a factor that contributed to improved productivity from 1995 to 2009?
a. surging investment
b. falling energy prices
c. advances in information technology
d. decreased costs for higher education
d
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In the classical model, the aggregate supply curve
A) is not related to the employment rate. B) is horizontal. C) is positively sloped. D) is consistent with the natural rate of unemployment.
Which of the following is a form of a direct tax?
a. Personal income tax b. Sales tax c. Excise duty d. Import tariff e. Value-added tax
Protectionism may fail to reduce a current account deficit because it
A. depreciates the dollar. B. invites retaliation, which hurts exports. C. encourages exports. D. does not reduce imports.
A monopolistically competitive market could be considered inefficient because
a. marginal revenue exceeds average revenue. b. price exceeds marginal cost. c. the efficient scale of production is only achieved in the long run, not in the short run. d. markup pricing does not occur in any other market structure.