What is one way to measure technological progress?
(A) Any increases in labor minus increases in capital.
(B) Total growth plus increases in capital and labor.
(C) Total growth minus increases in capital and labor.
(D) Any increases in capital minus increases in labor.
Ans: (C) Total growth minus increases in capital and labor.
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The ratio of the change in consumption to the change in disposable income is the
A) average propensity to save. B) marginal propensity to consume. C) average propensity to consume. D) marginal propensity to save.
Average indexed monthly earnings are derived from the worker's earnings history and determine the primary insurance amount (PIA).
A. True B. False C. Uncertain
When consumers lose confidence in the future of their economy, they begin to consume more, and this causes the aggregate demand curve to shift to the right
a. True b. False Indicate whether the statement is true or false
The economic policy of the U.S. government could have been described as laissez-faire until about
A. 1860. B. 1900. C. 1933. D. 1945.