Over the past century, the growth of labor productivity in the United States was highest in the _____
a. 1940s
b. 1950s
c. 1960s
d. 1970s
e. 1980s
a
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The production possibilities curve demonstrates the basic economic principle that
a. economies are always efficient b. assuming full employment, supply will always determine demand c. assuming full employment, an economy is efficient only when the production of capital goods in a particular year is greater than the production of consumption goodsin that year d. assuming full employment, to produce more of any one thing, the economy must produce less of at least one other good e. the production of more consumption goods this year requires the production of morecapital goods this year
Annie had a job as a human resource manager of a restaurant chain that went out of business due to a downturn in the economy. She looked for work for six months and gave up because she was convinced that she could not find a suitable job to fit her skill set. In this instance she would be counted as a
A. reentrant. B. discouraged worker. C. labor force participant. D. job leaver.
In Figure 29.1, the area that represents the total variable cost to producers under perfect competition is
A. OFCQPC. B. OPPCCQPC. C. OPmonopolyBQmonopoly. D. OFEQmonopoly.
In 1991, what group of countries began the process of forming the largest free-trade zone in the world?
A. the United States, Canada, and Mexico B. the North Atlantic Treaty Organization C. the European Community D. the Organization of Petroleum Exporting Countries