If average labour productivity increases, real GDP per person:
A. increases
B. decreases
C. remains constant
D. may increase or decrease, depending on the change in the share of population employed
Ans: D. may increase or decrease, depending on the change in the share of population employed
You might also like to view...
To find the economy's marginal benefit curve for a public good, you would
A) average the individual marginal benefit curves horizontally. B) average the individual marginal benefit curves vertically. C) sum the individual marginal benefit curves horizontally. D) sum the individual marginal benefit curves vertically.
Being that health care is a basic human right, there is no opportunity cost for the utilization of medical services
a. True b. False Indicate whether the statement is true or false
On the demand curve shown in the graph above, label it where it is very elastic, unit elastic, and very inelastic.
Refer to the information provided in Table 14.2 below to answer the question that follows. Table 14.2B's Strategy ?AdvertiseDon't Advertise??A's profit $100 millionA's profit $200 million?AdvertiseB's profit $100 millionB's profit $50 millionA's Strategy????Don'tA's profit $50 millionA's profit $75 million?AdvertiseB's profit $200 millionB's profit $75 millionRefer to Table 14.2. What is the Nash equilibrium in the game?
A. (Don't Advertise, Advertise) B. (Advertise, Don't Advertise) C. (Advertise, Advertise) D. (Don't Advertise, Don't Advertise)