Which of the following does not contribute to increased worker productivity?
a. technological advances
b. increased capital formation
c. improvements in workers' skills
d. increased labor supply
d
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Average product of labor is equal to ________
A) total product multiplied by the quantity of labor employed. B) the total product produced C) the quantity of labor employed divided by total product D) total product divided by the quantity of labor employed
Individuals who are under the age of 16 can sometimes be out of work, but they are still not included among the unemployed
a. True b. False Indicate whether the statement is true or false
American producers often complain about dumping. What is dumping, and should it be prohibited?
Alternative Outputs from One Day of Labor Wheat (in bushels) Textiles (in yards) United States 12 3 Great Britain 3 12 According to the table above, the United States
a. has an absolute advantage over Great Britain in the production of textiles. b. has an absolute advantage over Great Britain in the production of wheat. c. has a comparative advantage in the production of textiles. d. should export textiles to Great Britain. e. none of the above