In the formula for calculating the growth rate of multifactor productivity, the growth rate of labor productivity is represented by
A) y - n.
B) b(k - n).
C) bk/n.
D) b - n.
A
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Mergers and acquisitions
A) are usually associated with business success. B) are usually successful as management styles usually blend easily. C) are illegal if the firms were competitors. D) can sometimes lead to the loss of a core competency. E) can be successful if they add to the value chain.
Which of the following makes it more likely that a country will get caught in a vicious circle of debt financing, higher taxes, and sluggish growth?
a. Politicians like to raise taxes, but they are reluctant to spend on education, health care, and roads. b. High levels of debt will eventually lead to higher taxes just to pay the interest on the debt, but high taxes will slow economic growth. c. As outstanding debt increases, politicians will be reluctant to run budget deficits, which will cause the economy to slow. d. As outstanding debt increases, short-sighted politicians will want to run large budget surpluses in order to pay off the national debt quickly.
Technology
A) is constantly changing at every point along a production possibilities curve. B) is the recipe for combining land, labor, physical capital, and entrepreneurship to produce a good. C) does not have an effect on the amount of a good a society can produce with its given resources. D) only changes if resources change.
If bottled water, soft drinks and juices are included in the definition of the beverage market, then the relevant definition of the market is defined by
A) the locations of products that are produced. B) the low degrees of substitution between products in the market. C) the high degrees of substitution between products in the market. D) a low level of competition among firms producing those products.