Which of the following is an explanation for the high labor-productivity in the United States?
A. Plentiful capital resources
B. High total output in industries
C. High price of labor
D. Plentiful labor resources
A. Plentiful capital resources
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A price support directly sets the
A) amount of production. B) subsidy the government must receive from producers. C) equilibrium quantity. D) lowest price for which the good may be sold. E) highest price for which the good may be sold.
Which of the following questions is of most interest for MACROECONOMISTS?
A) Why is there inflation? B) Why does the steel industry want tariffs? C) What is the appropriate stance of antitrust policy? D) Why do foreigners immigrate to the United States?
According to the public choice theory, voters who choose to remain uninformed about the issues are behaving irrationally
a. True b. False Indicate whether the statement is true or false
During the 1990s and the first decade of the 2000s
a. polls have shown that U.S. citizens are more concerned about inflation than any other national problem b. the U.S. inflation rate reached double digits (10 percent or higher) c. the U.S. economy consistently experienced deflation (a falling price level) d. the U.S. inflation rate averaged about 8 percent per year e. the U.S. inflation rate averaged less than 3 percent per year