The productivity curve is a relationship between
A) real GDP per hour of labor and capital per hour of labor, with technology held constant.
B) capital per hour of labor and technological growth.
C) nominal GDP per hour of labor and capital per hour of labor, with technology held constant.
D) real GDP per unit of capital and capital per hour of labor, with technology held constant.
E) real GDP per hour of labor and capital per hour of labor whenever technological growth occurs.
A
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Once the United States Civil War broke out, the United States moved to a
A) gold standard. B) silver standard. C) bimetallic monetary standard consisting of silver and gold. D) bimetallic monetary standard consisting of copper and gold. E) paper currency, called the "greenback."
Regressional analysis that analyzes the relationship between one dependent variable and one independent variable is called:
A) simple regression analysis. B) correlation analysis C) multiple regression analysis. D) cluster analysis.
Exhibit 12-2 Unemployment categories Category# ofIndividuals Frictional unemployment 20 Structural unemployment 35 Cyclical unemployment 60 Discouraged workers 5 Underemployed workers 10 Fully employed workers410 Population900 The unemployment rate for the economy in Exhibit 12-2 is:
A. 12.8 percent. B. 21.5 percent. C. 22.2 percent. D. 30.5 percent.
The spending multiplier indicates that:
A. changes in investment, government, or consumption spending trigger much larger changes in real GDP. B. an autonomous increase in saving will cause output to rise by a multiple of the additional saving. C. a market economy will be more stable than classical economists thought. D. the marginal propensity to consume is greater than one.