The U.S. labor productivity speed-up of 1995–2010 could be explained by
A. the delayed adoption and familiarization with technology.
B. increases in government spending.
C. reductions in the real interest rate.
D. higher wages.
Answer: A
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If shortages or surpluses exist in a market, what helps guide the market back to equilibrium?
a. the invisible hand of competition b. the visible hand of government c. economic conservatives d. economic liberals
An industry's typical percentage markup
a. should be expected to fluctuate wildly from year to year b. equals 1 - (average cost per unit/average revenue per unit) c. is determined by collusion d. is of price concern for the macroeconomy e. is relatively low if there is fierce competition among firms.
As the interest rate falls,
a. the quantity of money demanded falls, which would reduce a shortage. b. the quantity of money demanded falls, which would reduce a surplus. c. the quantity of money demanded rises, which would reduce a shortage. d. the quantity of money demanded rises, which would reduce a surplus.
Which of the following price indexes is designed to measure changes in the prices of goods and services purchased by a typical individual?
A. Index of Leading Economic Indicators B. Producer Price Index C. Consumer Price Index D. Gross Domestic Product (GDP) Deflator