What is productivity? How does a country's standard of living relate to productivity?
What will be an ideal response?
Productivity refers to the amount of goods and services produced per worker. Per capita real GDP increases only if productivity increases, so, increases in a country's standard of living are tied to increases in productivity.
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When providing a good involves assembling several parcels of contiguous land, private individuals may encounter difficulty negotiating the purchase of those parcels
Indicate whether the statement is true or false
In financial markets, when a firm issuing new securities has previously issued securities, these securities are called
A) seasoned issues. B) an initial public offering. C) secondary issues. D) investment-grade issues.
Suppose y = Ak1/4, the capital-labor ratio is $40,000 per worker, the level of total factor productivity is 800, 70% of the population works, and there are 70 million workers. Real GDP per worker is
A) $5,000.00. B) $7919.60. C) $11,313.71. D) $14,142.14.
National income minus personal taxes net of transfer payments equals disposable income.
Answer the following statement true (T) or false (F)