GDP equals hours of work times
a. labor force.
b. output per hour.
c. population.
d. capital stock.
b
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All of the following are ways by which existing firms can deter the entry of new firms into an industry except
A) continuously producing new and improved products. B) advertising products aggressively. C) threatening to raise prices. D) earning less than maximum profit.
Which of the following federal farm programs was successful in reducing agricultural surpluses?
a. The Agricultural Act of 1948 b. The Emergency Act of 1978 c. The Emergency Feed Grain Bill of 1961 d. The Soil Bank Act of 1956
Which of the following would be an excellent example of a lumpy input
a. pancake griddles b. water c. labor d. corn e. pancake batter
Compared to the 1948 to 1973 period, the period from 1973 to 1995 can be characterized as a period of
a. faster real GDP growth. b. faster labor productivity growth. c. slower labor productivity growth. d. lower labor force growth.