Which of the following is a valid explanation for real wage growth?
A. The rising cost of capital accumulation
B. A contraction of employment in manufacturing industries
C. An increase in the quantity of labor
D. A rising rate of labor productivity growth
D. A rising rate of labor productivity growth
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If an economy is operating on its production possibility frontier, which of the following statements is true?
A. Products are produced using inefficient production technology. B. The capacity utilization rate is less than full production. C. The economy's labor force is fully employed. D. A fall in the price of an input will enable the economy to produce outside the production possibility frontier.
If the producer surplus in a market for a good is $36 and the consumer surplus in the market for the same good is $9, the social surplus in the market is ________
A) $4 B) $27 C) $45 D) $324
Fiscal policy can encourage Research & Development using either direct spending or tax policy to encourage _______ economic growth.
a. immediate b. historical c. long-term d. short-term
When a firm advertises, it is attempting to
a. shift its supply curve to the right b. shift its supply curve to the left c. shift its demand curve to the right d. shift its demand curve to the left e. create a surplus