Dating the start of falling labor productivity growth in 1973 is very suggestive of this explanation for it: ________ energy prices and ________ use of energy per worker
A) higher, decreased
B) higher, increased
C) lower, decreased
D) lower, increased
A
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According to your text, there are substitutes for any scarce good,
A) but some demand curves are vertical. B) but the elasticity of demand for most goods is zero. C) but the law of demand only holds for inexpensive goods. D) but it often takes time for consumers to seek out useful substitutes.
If the deficit is 0.08 times GDP, the existing debt—GDP ratio is 0.8, and the growth rate of nominal GDP is 0.05, then the change in the debt—GDP ratio is
A) +0.08 B) +0.04. C) 0. D) -0.08.
Inside lags are
A) longer for fiscal policy than for monetary policy. B) the same for fiscal policy and monetary policy. C) more variable for monetary policy than for fiscal policy. D) longer for monetary policy than for fiscal policy.
Recent research by Fed researchers put the natural rate of interest at:
A. five percent. B. two percent. C. negative one percent. D. close to 0 percent.