Given that a country's real output has increased, in which of the following cases can we be sure that its productivity also has increased?
a. The total number of hours worked rose.
b. The total number of hours worked stayed the same.
c. The total number of hours worked fell.
d. Both b and c are correct.
d
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The president's budget is submitted to Congress fifteen days after Congress convenes in _____
a. January b. February c. September d. October
Your firm is evaluating a potential investment in new machinery, but the manager in charge of the project uses an opportunity cost of capital that is too large. How does this error affect the projected net present value of the firm's investment?
A) NPV is overstated B) NPV is understated C) NPV is unaffected D) NPV changes from positive to negative
_____ is the understanding that perfect information is not likely to be available, and that as a result, people make decisions that in hindsight look irrational, but in reality are the rational results of a brain that is economizing
a. Reasoning b. Parametric determinism c. Rational ignorance d. Bounded rationality e. Dynamic inconsistency
Which of the following did NOT happen during the late 19th century in the U.S.?
a. Falling crop prices reduced farmers' incomes b. From 1880 to 1896, the price level fell by 23 percent c. Farmers lobbied for government policies to reduce inflation d. Farmers had reduced ability to pay off debts