Refer to the Article Summary. Unlike in the UK, labor productivity in the other G7 nations has increased since 2007. An increase in labor productivity:
A) will increase the labor force participation rate.
B) allows the average consumer to increase consumption.
C) will create short-run, but not long-run, economic growth.
D) will increase output and decrease wages in the long-run
Correct answer is B) allows the average consumer to increase consumption.
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If the government decides to bail out these other types of financial institutions during times of a financial crisis, it risks increasing the level of ________ in the financial system. A) moral hazard B) liquidity C) asset deflation D) insolvency
How does an economy represented by a straight-line production possibilities curve differ from one represented by a traditional production possibilities curve with a bowed shape?
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The consumption function has a negative slope
a. True b. False Indicate whether the statement is true or false