Place the four statements in the appropriate category, indicating what factors tend to raise labor productivity and what factors tend to lower it.
Ans: Factors that tend to raise labor productivity:
A labor using improvement in technology
Promoting educational and work opportunities for women
Factors that tend to lower labor productivity:
The best trained workers in a country migrating other countries to pursue better opportunities
Low level of literacy, malnutrition, lack of proper medical care and insufficient educational facilities
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Using the data in the above table, in the short-run macroeconomic equilibrium, there is
A) an inflationary gap of $1 trillion. B) an inflationary gap of $2 trillion. C) a recessionary gap of $1 trillion. D) a recessionary gap of $2 trillion.
John is able to take out a loan for $1,000 for one year at an annual interest rate of 10 percent. After calculating his return to be $200, John will:
A. make money on net, and should take out the loan. B. make money on net, and should not take out the loan. C. not make money on net, and should take out the loan. D. not make money on net, and should not take out the loan.
Figure 11-1
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In Figure 11-1, a cost-reducing technological breakthrough in calculator production would cause which movement?
A. A to D B. A to C C. A to B D. A to E
Which of the following might be a goal of a union?
a. increasing the size of the union b. increasing the income while holding the size of the union constant c. increasing both the size and income of the union d. all of the above