Which of the following is true of small changes in productivity growth rates?
a. Small changes in productivity growth rates decrease the productivity of workers in the short run compounding the problem.
b. The effects of small changes in productivity growth rates are compounded over the years leading to large cumulative effects.
c. Small increases in productivity growth rates cause output to
fall.
d. The effects of small changes in productivity growth rates are negligible.
e. Small decreases in productivity growth rates cause output to increase.
b
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The real wage is the:
A. the ratio of wage of unskilled workers to the wage of skilled workers. B. marginal product of labor. C. supply of labor. D. price of labor.
In a game, a dominated strategy is one where:
a. It is always the best strategy b. It is always the worst strategy c. It is the strategy that is the best among the group of worst possible strategies. d. Is sometimes the best and sometimes the worst strategy
The CPI's approach is to
a. track the cost of the CPI market basket, which is the collection of goods and services that the typical consumer buys. b. track the cost of the CPI market basket, which is the collection of every good and service that is for sale in the U.S. c. track the cost of housing, and food and beverage expenditures. d. track the cost of the CPI market basket, which is the collection of every good that is for sale in the U.S. e. track the cost of the CPI market basket, which is the collection of goods that the typical consumer buys.
If an investor had a $25,000 long-term capital gain on a $100,000 investment from 1984 to 2010, her real rate of return was most likely
A. equal to the expected rate of inflation. B. equal to the nominal rate of inflation. C. zero. D. negative.