The factor accounting for the largest increase in the productivity of labor in the United States has been:
A. technological advance.
B. improved resource allocation.
C. the quantity of capital.
D. the education and training of workers.
Answer: A
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An income tax is progressive if the
a. tax rate decreases as income increases. b. percentage of income paid in taxes increases as income increases. c. percentage of income paid in taxes stays the same regardless of the size of income. d. dollar amount paid in taxes increases with income.
If cost-push inflation occurs and the government adopts a "hands-off" policy approach, then according to the simple extended AD-AS model, in the long run the economy will:
A. Get back to where it started from B. Get stuck with high unemployment C. Experience an inflationary spiral D. Have a higher price level
In the figure above, with international trade American consumers buy ________ million shirts per year
A) 48 B) 32 C) 16 D) 24
Training policies adapt the demand for labor to the supply of labor
Indicate whether the statement is true or false