Labor productivity growth is the growth rate of output per person in the economy.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Which of the following statements is not true of fixed and flexible exchange rate systems?
a. Under fixed exchange rates, government officials have little direct role in the foreign exchange market. b. Under fixed exchange rates, the government must select an appropriate exchange rate. c. Under fixed exchange rates, active central bank intervention is necessary to maintain the fixed exchange rate. d. Under fixed exchange rates, the governments must stand ready to buy all foreign exchange offered to it and supply all foreign exchange demanded from it. e. Flexible exchange rates rely on market forces to set the exchange rate, but fixed exchange rates are set by central banks.
When banks hold excess reserves the:
A. money multiplier overestimates how much money will be created in the economy. B. money multiplier underestimates how much money will be created in the economy. C. reserve ratio is not fully functioning, and should be raised. D. reserve ratio is not fully functioning, and should be lowered.
In the United States, presidential elections occur every four years. If a political business cycle exists in the United States, in which year of a presidential term, all else fixed, would we expect output growth to be highest?
A) the first year B) the second year C) the third year D) the fourth year
Assuming no externalities exist, if a good's price is more than its marginal cost, then the benefits consumers derive are ________ than the cost of resources needed to produce it and ________ should be produced.
A. less; less B. less; more C. greater; less D. greater; more