Which of the following increases labor productivity?
A) an increase in the aggregate hours of work
B) decreases in the availability of computers and factory buildings
C) inventions of new machinery, equipment, or software
D) a decline in the health of the population
Answer: C
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During the 1930s, labor legislation was
(a) generally favorable to organized labor. (b) generally unfavorable to organized labor. (c) generally neutral with regard to organized labor. (d) virtually the same compared to previous periods.
Ensuring that high-quality public education is freely available to all children is one of the most important ways that a country can:
A. increase its stock of human capital. B. decrease its stock of human capital. C. decrease its productivity. D. increase its foreign direct investment.
Government intervention cannot improve the allocation of resources for goods that do not have prices attached to them
a. True b. False Indicate whether the statement is true or false
Inflation is problematic if
a. it is less than the percentage increase in nominal income. b. it is less than the nominal return on saving. c. it equals the growth rate of real GDP in the long run. d. it distorts relative prices, causing a misallocation of resources.