Which of the following is an example of a measure of labor productivity?
A) Farm workers produce 30 bushels of wheat per worker per day.
B) Autos get 30 gallons to the mile.
C) The growth rate of per capita real GDP is 3.5 percent per year.
D) Wages increase by 3.5 percent per year for 5 years.
A
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At the competitive equilibrium:
A) the demand curve is tangential to the supply curve. B) the quantity demanded exceeds the quantity supplied of a good. C) the quantity supplied exceeds the quantity demanded of a good. D) the quantity demanded is equal to the quantity supplied of a good.
According to the quantity theory of money, an increase in the money supply leads to:
A. an increase in prices, as there are more dollar bills spent on the same number of goods and services. B. an increase in prices, as there are the same dollar bills spent on a greater number of goods and services. C. a decrease in prices, as there are more dollar bills spent on the same number of goods and services. D. a decrease in price, as there are the same dollar bills spent on a greater number of goods and services.
The key goal of monetary policy is to..
What will be an ideal response?
Marginal utility is the ______ satisfaction generated by consumption of an additional good or service during a specific time period.
a. expected b. extra c. negative d. universal