Real Foods produced 400,000 cans of diced tomatoes last year and 460,000 cans of diced tomatoes this year. It employed the same number of labor hours each year. Real Foods' productivity
a. decreased 13%.
b. was unchanged.
c. increased 13%.
d. increased 15%.
d
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What happens to wage and rental rate according to the Heckscher-Ohlin model if the price of a good that uses capital extensively increases by 6%?
a. Both wage and rental rate decrease by 6%. b. Both wage and rental rate increase by less than 6%. c. Both wage and rental rate increase by more than 6%. d. Wage rate increases by more than 6% but rental rate decreases. e. Wage rate decreases but rental rate increases more than 6%.
A fall in the real interest rate brings a
A) rightward shift of the supply of loanable funds curve. B) rightward shift of the demand for loanable funds curve. C) leftward shift of the supply of loanable funds curve. D) movement down along the supply of loanable funds curve. E) movement up along the supply of loanable funds curve.
The stimulation of a large economy aimed at increasing growth in the rest of the world is commonly known as
A) pass-through effect. B) locomotive effect C) investment effect. D) domino effect.
An increase in autonomous spending is sure to reduce the real money supply when
A) the economy is in the liquidity trap. B) the IS curve is vertical. C) the economy is at full employment. D) velocity is constant.