The input that is generally hard to measure directly and consequently can be reasonably estimated with the growth accounting equation is:
A. technology.
B. physical capital.
C. labor.
D. land.
A. technology.
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The primary purpose of a strike by labor unions is to
A) force the firm out of business. B) extract from the firm better and improved conditions of work or contract terms. C) secure a larger market share for the firm. D) ensure they get paid for striking.
Time has a positive value for most people, but their opportunity costs of time differ
a. True b. False
How large a firm becomes is determined by
A) the demand for its product. B) the availability of economies of scale. C) the availability of economies of scope. D) the availability of specialized managers.
The cost of inflation reduction is less if people believe that the central bank will really reduce inflation
a. True b. False Indicate whether the statement is true or false