Which of the following will cause a reduction in output per worker (Y/N)?
A) a reduction in the capital stock (K)
B) a reduction in the saving rate
C) a reduction in K/N
D) all of the above
D
You might also like to view...
The optimal inventory to hold maximizes the profit of the inventory, which is the profit from the units sold ________ the ________ from the units that remain unsold.
A) plus; profit B) plus; loss C) minus; profit D) minus; loss
As it applies to insurance, the moral hazard problem is the tendency for:
A. those most likely to collect on insurance to buy it. B. those who buy insurance to take less precaution in avoiding the insured risk. C. sellers to price discriminate. D. sellers to restrict output and charge high prices.
Suppose an American worker can make 100 chairs or catch 900 fish per day. On the other hand, a Chilean worker, can make 40 chairs or catch 400 fish per day. The United States has an absolute advantage in the production of both fish and chairs. This means that the United States:
A. should take advantage of Chile by trading with them. B. should produce only chairs and trade with Chile to get fish. C. should produce only fish and trade with Chile to get chairs. D. can produce more fish and chairs than Chile given the same amount of workers.
For every 1 percentage point that the actual unemployment rate exceeds the natural rate, a 2 percentage point negative GDP gap occurs. This is a statement of:
A. Taylor's rule. B. Okun's law. C. Say's law. D. the Coase theorem.