The vertical axis of a graph that shows a market supply curve indicates the
A. various quantities of output at which the market will be cleared.
B. cost of the amount of output produced.
C. number of sellers who are in the market for this product.
D. prices at which firms would be willing and able to sell their different products.
Answer: D
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Which of the following is true about labor productivity?
A) it is the amount of total factor productivity (TFP) per unit of labor B) it is more difficult to measure than TFP C) it is a more general and better measure of productivity than TFP D) all of the above E) none of the above
Producers supply larger quantities of any good at higher prices because:
a. prices signal product quality.
b. higher prices attract resources from other uses.
c. people are naturally lazy and refuse to give up their leisure.
d. price and quantity supplied are inversely related.
e. of the law of decreasing opportunity cost.
The subprime mortgage bubble featured ____ leverage and the technology stock bubble featured ____ leverage
a. significant; significant b. significant; limited c. limited; significant d. limited; limited
The growth rate of potential GDP is not affected by
A. the growth rate of the labor force. B. the growth rate of a nation’s capital stock. C. the rate of technological progress. D. environmentalists’ ability to pass regulations.