The quantity of real GDP produced by one hour of labor is defined as
A) the advance in technology.
B) economic growth.
C) the growth rate of technology.
D) real GDP per person.
E) labor productivity.
E
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John has been trying to find a job for the past six months. He went for an interview at Aqua Inc Although his performance was better than that of all the other candidates, the interview board rejected him thinking that they must be missing out on
something about him that other employers have noticed and hence, have not hired him. A(n) ________ has occurred in this case. A) positive externality B) negative externality C) moral hazard D) information cascade
Which of the following is a determinant of supply?
A. number of consumers B. tastes and preferences of consumers C. consumer income D. technology
A firm ________ in the short-run has an incentive to expand its long-run scale of operation.
A. earning positive profits B. that shuts down C. breaking even D. making a loss
Why do developing nations often have low labor productivity? Are the workers just lazy?
What will be an ideal response?