If a nation moves upward along its per-worker production function relating output per worker to capital per worker, then:
a. labor productivity rises
b. labor productivity falls.
c. the amount of capital decreases, other things constant.
d. labor input decreases.
e. the productivity of capital rises.
a
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GDP using the expenditure approach equals the sum of personal consumption expenditures plus
A) gross private investment. B) gross private investment plus government expenditure on goods and services. C) gross private investment plus government expenditure on goods and services minus imports of goods and services. D) gross private investment plus government expenditure on goods and services plus net exports of goods and services.
"When workers already have a large quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity only slightly.". This statement
a. represents the traditional view of the production process. b. is an assertion that capital is subject to diminishing returns. c. is made under the assumption that the quantities of human capital, natural resources, and technology are being held constant. d. All of the above are correct.
A budget deficit is best defined as the
A. shortage of spending power created by a government spending cut. B. shortage of spending power created by a tax increase. C. accumulation of past debt that has not been covered by taxes. D. amount by which a government’s expenditures exceed receipts during a specific time period.
A researcher wants to test the effects of daily meditation on stress levels of individuals. She divides the participants randomly into a treatment group and into a control group and conducts an experiment
She pays for meditation classes for one-half of the subjects, and the other half does not join the class. Which of the following statements is true of the two groups in this experiment? A) The participants in the treatment group are assigned by chance, whereas the ones in the control group are assigned by choice. B) The participants in the control group are assigned by chance, whereas the participants in the treatment group are assigned by choice. C) The treatment group is the group of subjects that receives finance from the researcher for meditation classes; the control group is the group that does not. D) The control group is the group of subjects that receives finance from the researcher to join the meditation class; the treatment group is the group that does not.