Over the entire period since 1950, average labor productivity in the United States has ________ although between 1973 and 1995 the rate of change ________.
A. decreased; accelerated
B. increased; slowed
C. increased; accelerated
D. decreased; slowed
Answer: B
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When demand is ________, a decrease in price ________ total revenue
A) elastic; decreases B) inelastic; decreases C) unit elastic; increases D) elastic; does not change
In the above table, what is the marginal physical product of worker 5?
A) 8 B) 10 C) 11 D) 7
An increase in the real rate of interest that can be earned on U.S. investments above the rate that can be earned on investments in India would:
a. increase the price of the dollar in Indian rupees. b. increase the supply of dollars by those holding U.S. dollars. c. decrease the equilibrium exchange rate of Indian rupees per dollar. d. all of these.
The concept quality-adjusted life year (QALY):
a. is given an arbitrary value when applied to a real world problem. b. is a multidisciplinary approach to measuring health status. c. is used extensively to evaluate medical care resource allocation within government-run programs on fixed budgets, especially in Europe. d. is used extensively in the US to evaluate health care programs. e. has little application to medical decision making.