Entrepreneurs contribute to increased average labor productivity in each of the following ways except by:
A. developing new products.
B. introducing new production methods.
C. assigning workers to jobs.
D. implementing new technological processes.
Answer: C
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Indicators of economic activity that move at the same time as the overall economy are called ________ indicators.
A. short-term B. real C. long-term D. coincident
If the demand for a monopoly's output shifts leftward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer. B) the monopoly is a price taker. C) the monopoly has no supply curve. D) the monopoly's marginal cost curve might not be upward sloping.
A government policy that makes investments prior to retirement tax exempt until retirement increases the amount saved at any given interest rate
What will be an ideal response?
In which situation is the real value of 1 unit of currency the highest?
a) A Big Mac that costs 4 pounds in London. b) A Big Mac that costs 450 yen in Tokyo. c) A Big Mac that costs $4.75 in New York City. d) A Big Mac that costs 7 Swiss Francs in Zurich.