Discuss several of the hypotheses concerning the reduction in productivity growth in the mid-1970s
What will be an ideal response?
Answers can include: measurement error, the rise of the service sector, reduced R&D spending.
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Using the table above, for which of the following levels of employment does the average product of labor exceed the marginal product of labor at Decent Donuts?
A) ten workers B) seven workers C) both of the above D) neither of the above
A speculator is someone who
a. buys a good for immediate consumption b. buys a good for a low price, hoping to sell it in the future for a higher price c. buys a good for one price and hopes to sell it for a lower price in the future d. sells a good for a lower price than its original purchase price e. sells all of his or her merchandise and then exits the market
Exhibit 10-4 Aggregate supply and demand curves
As the economy moves to the right from E1 to E2 in Exhibit 10-4 along the upward-sloping aggregate supply curve the:
A. unemployment rate rises. B. unemployment rate falls. C. inflation rate falls. D. full employment GDP is realized.
In 2010 and 2011, many observers were worried that the
A. budget would not be balanced and fiscal stimulus would be withdrawn too soon. B. budget would not be balanced and monetary stimulus would be withdrawn too soon. C. budget would be balanced and fiscal stimulus would be withdrawn too soon. D. budget would be balanced and monetary stimulus would be withdrawn too soon.