According to Edward Denison's estimates, the largest proportion of economic growth during the 1929-82 period was
a. growth in the labor input.
b. growth in output per unit of input.
c. growth in the capital input.
d. economies of scale.
e. education.
B
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The cab fare in Horseville is regulated. Recently, the government decided to raise it from $2.00 to $2.50 per ride. After this rise in fare, cab ridership decreased by 10 percent
a) What is the price elasticity of demand for cab rides in Horseville? (Use the midpoint formula to calculate the percentage change in the price.) Is the demand for rides elastic or inelastic? b) According to your estimate, what happened to the cab drivers' revenue after the fare rose? Explain. c) Why might your estimate of elasticity be inaccurate?
Explain how market economies are generally better able to achieve technological progress than are centrally planned economies
What will be an ideal response?
During the month of May, 10 million workers moved from being classified as "unemployed" to being classified as "employed." As a result,
A) the labor force participation rate fell. B) the labor force participation rate rose. C) the unemployment rate rose. D) the unemployment rate fell.
The __________ "Hausbank" handles all the external financing for a firm
A) Japanese B) German C) Swedish D) British