The two key factors that cause labor productivity to increase over time are:
A. the quality of labor per hour worked the level of technology
B. the quantity of capital per hour worked and the level of technology
C. better environmental standards and stricter labor laws
D. the decline in unionization and slacking of labor laws
Ans: B. the quantity of capital per hour worked and the level of technology
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The above figure shows the market for the three moving companies in a small nation
If the movers act as perfect competitors, what is the price per mile and the number of miles per year? If the movers collude and act as a single monopoly, what is the price per mile and the number of lines per year?
In what way is development economics greater in scope than traditional economics?
What will be an ideal response?
The market expansion effect of globalization has which of the following effects?
A. The labor force participation rate declines. B. The demand for labor for many kinds of work increases, pushing the equilibrium wage up. C. The overall number of workers employed falls. D. The supply of labor for many kinds of work increases, pushing the equilibrium wage down.
Education is an integral part of economic growth.
Answer the following statement true (T) or false (F)