From 1950-1970, labor productivity growth in the Soviet Union was driven primarily by
A) capital accumulation.
B) population increases.
C) total factor productivity.
D) Capital, population increases, and total factor productivity contributed about equally to labor productivity growth.
A
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As more of a good is produced, its opportunity cost tends to increase because resources are not equally efficient at producing all goods.
Answer the following statement true (T) or false (F)
A closed economy is one that
A) has no government sector. B) neither borrows from nor lends to foreign countries. C) produces mainly agricultural goods. D) produces mainly manufactured goods.
Once a government has provided a public good, everyone:
A. pays the cost. B. experiences negative externalities. C. experiences positive externalities. D. can obtain the benefit.
The more product differentiation in the market, the ________ the firm specific demand curve. The less product differentiation in the market, the ________ the firm specific demand curve.
A. steeper; flatter B. flatter; steeper C. more concave; more convex D. more convex; more concave