The application of new technologies to the production process will increase
A. the quantity of human capital.
B. labor productivity.
C. the share of the population employed.
D. the unemployment rate.
Answer: B
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Assuming all else equal, a decrease in the real interest rate will cause:
A) an upward movement along the credit supply curve. B) a downward movement along the credit supply curve. C) the credit supply curve to shift to the right. D) the credit supply curve to shift to the left.
If the fluctuations in the economy’s real growth rate from year to year are caused primarily by variations in the rate at which aggregate supply increases, then data would show
A. a cyclical relationship between inflation and unemployment. B. a direct relationship between inflation and unemployment. C. an inverse relationship between inflation and unemployment. D. no relationship between inflation and unemployment.
Which of the following would shift the short-run Phillips curve to the left?
a. a positive supply shock b. an increase in inflationary expectations c. an negative supply shock d. either (a) or (c)
Firms will hire additional workers only as long as the value of their product is less than the relevant market wage.
Answer the following statement true (T) or false (F)