Which of the following is an example of a measure of labor productivity?
A. Factory workers produce 100 units of TVs per worker per day.
B. Autos get 20 gallons to the mile.
C. Wages increase by 3 percent per year for 5 years.
D. A household's income increased by 3 percent last year.
Answer: A
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If a country faces action under Section 301 of the U.S. Trade Act of 1974, it means that the country has
A) exceeded average import growth by more than 301 percent. B) exceeded average export growth by more than 301 percent. C) tariffs that are above 301 percent. D) been charged by the United States with systematically engaging in unfair trade practices. E) been charged by the WTO with violating its trade obligations.
What are the effects of a financial crisis on short-run aggregate supply? How might long-run aggregate supply be affected?
What will be an ideal response?
If a person supplies more hours of labor in response to a wage increase, then
A) the substitution effect is greater than the income effect. B) the income effect is greater than the substitution effect. C) the income effect equals the substitution effect. D) the person is not maximizing utility.
Firms may choose to discriminate in order to reduce information costs associated with screening applicants
a. True b. False Indicate whether the statement is true or false