The employment/population ratio is
A) more volatile than the participation rate.
B) roughly constant over time.
C) less volatile than the participation rate.
D) smaller in 2012 than in 1970.
A
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Private markets will not provide the efficient quantity of a public good because
A) of the principle of minimum differentiation. B) public goods are rival and excludable. C) of rational ignorance. D) of the free-rider problem.
If adopted by a firm, a labor-augmenting piece of technology is one that would:
A. increase labor demand. B. increase labor supply. C. decrease labor demand. D. decrease labor supply.
What is a natural monopoly? Why is government justified in regulating a natural monopoly?
Which of the following is true of the rule of 72?
a. The rule of 72 is used to approximate annual real GDP. b. The rule of 72 determines the time required for any value to double if it grows at a constant annual rate. c. The rule of 72 is used to calculate the number of years it takes for any quantity to treble in size. d. The rule of 72 refers to the fact that real GDP doubles every 6 years. e. The rule of 72 refers to the fact that capital growth has consistently contributed 72 percent to the U.S. real GDP.