The fundamental invention underpinning the 1995-2012 rise in the average rate of productivity growth is the:
A. microchip.
B. fuel cell.
C. Internet.
D. personal computer.
A. microchip.
Economics
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Use the above table. The MPC is
A) 0.09. B) 0.20. C) 0.80. D) 0.91.
Economics
Potential output in an economy is dependent upon which of the following factors?
a. the given supply of resources b. rate of unemployment c. nominal wages d. potential output is not dependent on any of the previous factors
Economics
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
Economics
The role of an assumption in an economic theory is to:
A. increase the scope of application. B. simplify the theory. C. add realism. D. prove the theory.
Economics