If the capital stock remains fixed while the supply of labor increases, it is likely that
A. the productivity of labor will rise.
B. the productivity of labor will fall.
C. output per capita will rise.
D. the productivity of labor will not change.
Answer: B
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Line item budgets _____
a. do not provide any insight into the effectiveness of expenditures b. are good for evaluating the effectiveness of programs c. allow expenditures to change gradually over time d. give insight into overall trends in agency expenditures
If there was only full-reserve banking:
A. the financial system would work better. B. absolutely no lending using deposits would be able to occur. C. banks would make more money lending deposits. D. The money multiplier would be at maximum.
In a typical oligopolistic market, there are
A) no barriers to entry and firms sell homogeneous products. B) substantial entry barriers, and firms are too large to strategically interact with each other. C) substantial barriers to entry and firms interact strategically with each other. D) no barriers to entry and firms interact strategically with each other. E) no barriers to entry, but firms sell differentiated products.
Referring to Figure 18.3, the effect of a decrease in U.S. interest rates is represented by a movement from point:
A. d to a. B. c to b. C. c to d. D. b to c.