Equilibrium in the labor market
A) cannot occur if the production function is shifting upward.
B) can happen only when actual GDP exceeds potential GDP.
C) means that resources are allocated inefficiently
D) occurs when actual GDP is equal to potential GDP
D
You might also like to view...
A system of property rights
A) encourages economic growth by creating incentives to invest in capital and to be innovative. B) discourages economic growth by discouraging the development of new ideas and ways of doing things. C) reduces the efficiency of government, which reduces the growth rate of the economy over time. D) encourages investment but discourages entrepreneurial activity, so the effect on economic growth is uncertain.
In January, suppose that a share of stock in Meyer, Inc had a price of $50 and that each share entitled its owner to $2 of Meyer, Inc's profit. During the year, the price of a share of Meyer's stock rose to $100
The interest rate paid on the share in January was ________ percent. A) 2 B) 0.02 C) 4 D) 25
The average product of labor increases as output increases if _______
A. marginal product exceeds average product B. average product exceeds marginal product C. total product increases D. marginal product increases
A bond buyer is a
a. saver. Bond buyers must hold their bonds until maturity. b. saver. Bond buyers may sell their bonds prior to maturity. c. borrower. Bond buyers must hold their bonds until maturity. d. borrower. Bond buyers may sell their bonds prior to maturity.