The productivity speed-up in the United States could be explained by
a. improvements in labor force quality.
b. falling energy prices.
c. rising rates of domestic saving.
d. advances in information technology.
d
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Suppose that in the United States and the United Kingdom the real rate of interest is 1 percent and constant. In this case, the nominal interest rates in both countries
A) are equal. B) differ solely by the expected future spot rate differential. C) differ solely by the expected inflation differential. D) differ solely by the forward rate differential.
If a price decrease leads to an increase in total revenue, demand must be: a. perfectly inelastic. b. relatively inelastic. c. relatively elastic
d. unit elastic.
If the budget line shifts from BB to bb in the above diagram we can infer that the:
A) price of Y has increased and the price of X has decreased. B) price of Y has decreased and the price of X has increased. C) prices of both X and Y have increased. D) prices of both X and Y have decreased.
What is the effect on society of a falling growth rate in productivity?
A. Resources are used more efficiently. B. The standard of living drops. C. Inflation is prevented. D. Increased labor disputes may occur.