Which of the following is NOT one of the potential sources of lower growth in productivity cited by Gordon?
A) falling productivity in the public utilities industry
B) wasted resources in the construction of unnecessary infrastructure
C) increases in energy prices
D) a decrease in growth of the capital stock
B
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In a country with a working-age population of 22 million, 16 million are employed, 2 million are unemployed, and 1 million of the employed are working part-time, half of whom wish to work full-time. The unemployment rate is
A) 15.4 percent. B) 10 percent. C) 10.3 percent. D) 11.1 percent. E) none of the above.
A minimum wage law creates a price (or wage) _____ and a labor _____.
A. floor; shortage B. floor; surplus C. ceiling; shortage D. ceiling; surplus
New trade theory is very useful in explaining trade patterns
a. true b. false
As it relates to corporations, the principal-agent problem is that:
A. the goals of the corporate managers (the principals) may not match the goals of the corporate owners (the agents). B. the goals of the corporate managers (the agents) may not match the goals of the corporate owners (the principals). C. the federal government (the agent) taxes both corporate profits and the dividends paid to stockholders (the principals). D. it is costly for the corporate owners (the principals) to obtain a corporate charter from government (the agent).