In one day Portal Computer Company made 400 laptops with 1200 hours of labor. What was its productivity?
a. 1/3 laptop per hour
b. 3 hours per laptop
c. 1200 laptops
d. 400 laptops
a
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The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. When real GDP is $15 billion, firms' inventories experience an unplanned
A) increase of $5 billion. B) decrease of $10 billion. C) increase of $4 billion. D) decrease of $1 billion. E) increase of $10 billion.
Currency substitution means
(a) use of money instead of barter. (b) use of countertrade instead of money. (c) use of foreign exchange instead of domestic currency. (d) all of the above. (e) none of the above.
Governments often subsidize activities that generate positive externalities in order to get people to engage in more of them
a. True b. False
The 1960s are remembered by most economists as a period of
a. very high rates of inflation. b. very high rates of unemployment. c. price controls and low inflation. d. noninflationary growth. e. all of the above.