In the contemporary United States, labor productivity has been growing at approximately
A. 1.5 percent per year
B. 2.0 percent per year.
C. 2.6 percent per year.
D. 3.9 percent per year.
Answer: C
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Historically, government bonds have averaged a real return of about ____ percent, while a broad index of stocks generates a _______ percent return over the same period.
A. 2; 7 B. 7; 2 C. 7; 12 D. 12; 7
Public choice theory predicts candidates will
A) speak in specific instead of general terms. B) modify their positions to become more like their opponent, if polls show they are not doing as well as their opponent. C) call themselves right-wingers or left-wingers, not middle-of-the-roaders. D) label their opponents as too middle-of-the-road. E) all of the above
A gift-giver's efficient number of gifts (to give to a gift-recipient) has fallen from 10 to 8. This could be because
A) the gift-giver's marginal benefit curve for giving gifts shifted down and left. B) the gift-giver's marginal cost curve of giving gifts shifted up and left. C) the gift-recipient "fell out" of the gift-giver's utility function. D) a and b E) none of the above
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.