Which of the following categories of GDP can possibly be negative?
A. Net exports and changes in private inventories only
B. Net exports only
C. Changes in private inventories only
D. None of the categories
Answer: A
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During periods of high inflation, such as the 1979-1980 period, the existence of usury laws may cause
a. nominal rates of interest to be above real rates. b. negative nominal rates of interest. c. negative real rates of interest. d. real rates of interest to be above nominal rates.
Having free entry and exit in a market can help drive:
A. cost-cutting. B. innovation. C. quality improvements. D. All of these occur more often with free entry and exit.
Labor productivity is
A) the quantity of output produced in one hour by several workers. B) the quantity of capital one worker can produce in one day. C) the quantity of output produced by one worker or by one hour of work. D) the quantity of output produced in one hour by one machine.
If the labor-force participation rate is 90% and the total population 16 years of age or older is 3 million people, the labor force is
A. 2,450,000 people. B. 2,700,000 people. C. 3,300,000 people. D. 3,900,000 people.