Increases in worker productivity usually reflect policies that encourage
A. population growth.
B. consumption.
C. extensive government regulation of business.
D. investment in physical and human capital.
Answer: D
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A single-price monopolist produces a ________ quantity than a perfectly competitive market with the same costs and charges a ________ price than the perfectly competitive market
A) greater; higher B) greater; lower C) lesser; lower D) lesser; higher
Legislation that makes it illegal to require union membership as a condition of continuing employment is the
A) National Labor Relations Act. B) Wagner Act. C) Congress of Industrial Organizations. D) collection of right-to-work laws.
Profit-maximizing firms will expand their employment of each variable resource until
a. the Marginal Revenue Product (MRP) of the resource is just equal to the price of the resource. b. other firms realize they can't compete. c. the MRP of the resource is below the cost of the resource. d. the MRP of the resource is above the cost of the resource.
A policy that raises taxes or reduces government spending is called:
A. a contractionary monetary policy. B. a contractionary fiscal policy. C. an expansionary monetary policy. D. an expansionary fiscal policy.