Growth rates in labor productivity
(a) increased in the 1970s.
(b) slowed across all employment sectors, with some experiencing
more severe drops than others.
(c) decreased across all employment sectors at the same rate.
(d) were largely stagnate.
(b)
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A company does not need to know the price of each resource it employs if it wants to determine whether or not it is achieving
A) technological efficiency. B) economic efficiency. C) accounting efficiency. D) managerial efficiency.
Doubling the future value will cause the:
A. present value to decrease. B. present value to increase by less than 100%. C. present value to double. D. interest rate, i, to decrease.
Based on the U.S. historical experience with the gold standard, we can conclude that
A) the gold standard guarantees price stability but not economic stability. B) the standard guarantees economic stability but not price stability. C) the gold standard guarantees both economic and price stability. D) the gold standard guarantees neither economic nor price stability.
The break-even inflation rate is the
A. negative of the real interest rate. B. inflation rate that makes the nominal interest rate equal the real interest rate. C. excess of the nominal interest rate over the TIPS interest rate. D. inflation rate that is optimal according to the Friedman rule.