Which of the following would not be an example of a productivity shock?
A) The introduction of new management techniques
B) A change in government regulations affecting production
C) A change in the level of government transfer programs
D) A spell of unusually good or unusually bad weather
C
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According to efficiency wage models,
a. their key element is an explanation of why the efficiency (or productivity) of workers depends on the real wage. b. the rationale underlying those models implies that firms will set the real wage below the market clearing level. c. they explain real wage volatility. d. all of the above.
Which of the following would be considered an ongoing expense?
A. Raw materials B. Advertising C. Employee salaries D. All of these could be considered ongoing expenses.
How do the suppliers of capital and the users of capital connect?
A. Through the Fed discount window B. Through government agencies C. Through private one-on-one transactions D. Through the use of a financial intermediary
Which of the following is definitely not a nonexcludable public good?
A. national defense B. elementary education C. flood control D. charitable giving E. None of the above; all are nonexcludable public goods.