Labor productivity increases when
A. the average output produced per worker during a specified time period decreases.
B. the unemployment rate decreases.
C. the average number of hours people work goes up.
D. the average output produced per worker during a specified time period increases.
Answer: D
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Suppose the average price of gasoline in the United States rose from $3 per gallon to $4 per gallon. Accompanying the increase in gas prices was a decrease in new automobile sales
Other things equal, if this trend continues, real GDP would likely ________ and the output gap would become ________. A) rise; more negative B) rise; less negative C) fall; more negative D) fall; less negative
Which of the following occurs when an employer refuses to hire a qualified individual due to the job applicant’s race, gender, or religion?
a. Discrimination b. Cognitive bias c. Affirmative action d. Racial profiling
The cost to a member bank of borrowing from the Federal Reserve is called the:
a. reserve requirement. b. discount rate. c. yield on government bonds. d. price of securities in the open market.
The Fed decreases reserves if it conducts open market
a. purchases or auctions term credit. b. purchases but not if it auctions term credit c. sales or auctions term credit d. sales but not if it auctions term credit