The majority of evidence points to the fact that, in the last decade in the United States, labor productivity has
A. stayed the same.
B. increased.
C. decreased.
D. decreased in the manufacturing sector but increased in the service sector.
Answer: B
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The opportunity cost to a cab driver of taking the day off increases when
A) it rains. B) more cabs enter the business. C) the price of gasoline rises. D) the weather is so pleasant everyone prefers to walk. E) many other cabs are out on the streets.
If, in an economy, households receive $200 in interest payments and make interest payments of $210, wages equal $500, rental receipts are $300, royalties are $100, profits are $200, depreciation is $50, and indirect business taxes are $50, then gross domestic income is
A. $1280. B. $1190. C. $1110. D. $1180.
State and federal regulators retain the authority to set or approve public utilities' prices. An important prerequisite for this role is to know the utility's:
A. true cost function. B. price in other economies. C. income elasticity of demand. D. price elasticity of supply.
At higher interest rates, banks will want to hold more reserves.
Answer the following statement true (T) or false (F)