A reason for an increase in labor productivity growth is
A) an increase in the population so that firms hire more workers.
B) a decrease in the capital stock so that firms must hire more workers.
C) an increase in people's human capital.
D) an increase in the quantity of labor.
E) growth in the supply of labor.
C
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The most commonly traded product (by value) in recent years has been
A) petroluem. B) wheat. C) televisions, stereos, and VCRs. D) automobiles.
Protectionist legislation is often passed because:
A. employers in the affected industry lobby more effectively than the workers in that industry. B. both employers and workers in the affected industry lobby for protectionist policies. C. trade restrictions often benefit domestic consumers in the long run, though they must pay more in the short run. D. it helps to keep domestic prices at a relatively lower level.
Refer to the graph shown. If the economy is at point D, which of the following policies is most appropriate to bring the economy to potential?
A. Increase in taxes B. Cut in government spending C. Cut in taxes D. No change in taxes or government spending
Place point A on the graph to indicate where the United States economy operated in 1938.
