From 1973 to 1995, productivity of labor in the United States
A. declined because of reduced capital formation.
B. declined because of slower technological improvement.
C. increased because of expanded technological improvement.
D. increased because of lower gasoline prices.
Answer: B
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a. have been enacted without debate b. include one aimed at coal-fired and oil-fired power plants c. will weaken national controls on toxics d. none of the above
Answer the following statement(s) true (T) or false (F)
1. Market demand for a private good is found by vertically summing individual demands. 2. The supply curve is positively sloped because marginal cost (MC) rises with output (Q). 3. If QS = –10 + ½ P, the slope of supply, when conventionally graphed, is +½ . 4. Equilibrium price is the price level at which QD equals QS. 5. If the price level is such that quantity supplied exceeds quantity demanded, there is excess demand, or a shortage in the market.
What is meant by "tax shifting"?
What will be an ideal response?
If the government enacts contractionary fiscal policy, it could:
A. reduce its spending. B. decrease personal income taxes. C. decrease corporate income taxes. D. All of these are contractionary.