If a worker produces more because they have more (but not necessarily better) capital with which to work, that will
A. increase labor force productivity and total factor productivity.
B. increase labor force productivity but not necessarily total factor productivity.
C. increase labor force productivity but decrease total factor productivity.
D. increase neither labor force productivity, nor total factor productivity.
Answer: B
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Refer to the Article Summary. If the 12 nations that are a part of the TPP do not agree to these stricter pharmaceutical patent laws as a way to increase intellectual property rights and ignore any international agreements which do protect these
intellectual property rights, which of the following would most likely occur? A) More patents would be issued to pharmaceutical companies. B) Pharmaceutical companies would consider expanding operations to these TPP nations. C) More dollars would be spent on the development of new medicines. D) Pharmaceutical companies would decrease investment in the development of more experimental drugs.
The effects of a higher than expected price level are shown by
a. shifting the short-run aggregate supply curve right. b. shifting the short-run aggregate supply curve left. c. moving to the right along a given aggregate supply curve. d. moving to the left along a given aggregate supply curve.
An indifference map implies that:
A. money income is constant, but the prices of the two products vary directly with the quantities purchased. B. the two products under consideration are perfectly substitutable for one another. C. a consumer is better off to be at some point high on a given curve as opposed to a point low on the same curve. D. curves farther from the origin yield higher levels of total utility.
There are five firms in an industry. You know sales of the four largest firms are $1,000,000, $500,000, $400,000, and $178,000. If the C4 ratio is 95 percent, then the HHI is:
A. 3,038. B. 2,755. C. 5,017. D. 1,810.