In the long run, increases in output per person arise primarily from:
A. an increasing proportion of the population retiring
B. increases in female labor force participation.
C. increases in male labor force participation.
D. increases in average labor productivity.
Answer: D
You might also like to view...
When demand is perfectly inelastic, an increase in price will
A) leave total revenue unchanged. B) increase total revenue. C) decrease total revenue. D) either increase total revenue or decrease total revenue, but it is impossible to tell which.
A bank's assets consist of $500,000 in total reserves, $1,600,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $2,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 30 percent, what is the level of the bank's excess reserves? How much money could the excess reserves be used to create in the banking system as a result?
a. zero; zero b. $50,000; $50,000 c. $50,000; $500,000 d. The bank has insufficient reserves to meet its reserve requirements.
At an equilibrium price for gasoline,
a. everyone with the desire and the income to buy gasoline at that price can do so. b. surpluses are inevitable. c. inherent market forces will eventually change the quantities demanded and supplied. d. suppliers must be using the most efficient oil-drilling equipment available.
Today farms with sales of more than $250,000 a year account for about _____ percent of all agriculture sales.
A. 5 B. 25 C. 50 D. 75