All of the following are reasons average workers in the United States today produce more than their counterparts a century ago EXCEPT that the modern worker:
A. is better educated.
B. has more physical capital to work with.
C. has better technology to work with.
D. works longer hours.
Ans: D. works longer hours.
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Tennessee emits sulfur dioxide that flows into North Carolina. In meeting sulfur emissions regulations, the Tennessee Valley Authority (TVA), which produces electricity, buys sulfur emission permits from Wyoming. The resulting hot spot problem is:
a. The citizens of Wyoming will experience higher sulfur emissions as a result of the emissions trading program. b. The citizens of Wyoming will experience lower sulfur emissions as a result of the emissions trading program. c. The citizens of Tennessee will pay more to reduce sulfur emissions than if the government used a command-and-control approach. d. The citizens of North Carolina will suffer higher emissions as a result of the emissions trading program.
If demand is price inelastic,
a. price and total revenue change in opposite directions b. a seller should decrease the price to increase total revenue c. too few goods are being produced from society's point of view d. price and total revenue change in the same direction e. the market can never be in equilibrium
When the Fed increases the required reserve ratio, a bank's
A) excess reserves are unaffected. B) excess reserves are increased. C) excess reserves are decreased. D) required reserves are decreased. E) b and d
According to the? text, the term? "Eurosclerosis" refers to
a. The cumulative effects of high productivity growth in Europe.
b. Stagnant economic growth in Europe.
c. A long period of higher growth rates among European countries than the growth rates of the United rates.
d. The differing views about the growth rates of European countries.