Compared to the previous 20 years, productivity growth in the United States increased between 1996 and 2014
Indicate whether the statement is true or false
FALSE
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What are the three categories of correlation? Illustrate with real life examples
What will be an ideal response?
Which of the following is TRUE?
A) Economic efficiency occurs if the maximum feasible amount of output is achieved from a given quantity of inputs. B) Economic efficiency depends only on what is feasible. C) If production is technologically efficient then it must be economically efficient. D) None of the above statements are correct.
Government regulators sometimes set the price of a drug at its marginal cost of production without including a fair share of the global joint cost of research and development. Which of the following statements is true about this practice?
a. This behavior is highly unlikely because every country pays its fair share of the cost of research and development. b. Setting drug prices at the marginal cost of production expands the market and guarantees that total drug spending covers all costs, including fixed development costs. c. It assures consumers of the unlimited availability of the drug. d. The described practice is almost impossible because development costs are easily divided among consumers and prices to reflect differences in the relative benefits each receives. e. This practice is a classic example of free riding.
Exhibit 1A-5 Straight line
In Exhibit 1A-5, the slope for straight line CD is:
A. 5. B. 1. C. ?1. D. ?5.