Give the approximate importance of productivity as a source of economic growth in the United States and list the various sources which account for this productivity growth and their relative importance
Please provide the best answer for the statement.
Improved productivity accounted for most of the economic growth in the United States in recent years. It is estimated that of this, 40 percent was a result of technological advance, 30 percent was due to increased capital, 15 percent was due to education and training, and 15 percent was due to economies of scale.
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Throughout U.S. history labor and physical capital have been
(a) input substitutes and complements. (b) output substitutes and complements. (c) product displacements. (d) mixed outputs.
If, for a given disposable income level, the disposable income line lies below the consumption curve, saving:
a. equals consumption. b. equals disposable income. c. is less than zero. d. is equal to zero. e. is greater than zero.
The supply curve indicates
a. the price that will be charged for each unit of a good or service b. how much people are willing to pay for a good or service c. the minimum price some seller must receive in order to supply each unit of a good or service d. the value of each unit of a good or service e. the maximum price some seller can expect to receive from supplying each unit of a good or service
Which one of the following is concerned with social regulation?
A. Equal Employment Opportunity Commission B. Federal Communications Commission C. Sherman Commission D. Federal Energy Regulatory Commission