How has the development of the microchip and information technology contributed to increased productivity?
What will be an ideal response?
There are two main domestic reasons for the increase in productivity. First, many advocates of continuance of the recent increase in trend rate productivity cite the microchip and the growth of information technology as a key factor in the boom of productivity. They have led to the production of the pocket calculator, personal computer, laptop, cell phone, digital camera, and many other technologies. Moreover, the boom in these technologies has encouraged the push to link these technologies together.
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If a society moves from a period of time with significant unemployment to a time with full employment, its production possibilities frontier will
A) shift rightward. B) not shift because the society moves from a point inside the frontier to a point on the frontier. C) shift leftward. D) not shift because the society moves from one point on the frontier to a point inside the frontier. E) not shift because the society moves from one point on the frontier to a point outside the frontier.
From the Cobb-Douglas production function we learn that there are two sources that help explain cross-country differences in per capita income: ________ and ________
A) capital; labor productivity B) labor share of income; TFP C) TFP; capital per person D) labor per person; capital E) none of the above
In the above figure, the equilibrium exchange rate between U.S. dollars and British pounds is
A) A. B) B. C) C. D) W.
In the strategic view of bargaining:
a. Bargaining is described by standard game theory rules b. The game is played without specific strategies c. The game always results in a fifty-fifty split d. The game is played just for the fun of it