The slowdown in labor productivity growth from 1973 to 1995 ________ matched by a similar slowdown in MFP growth, suggesting that the growth rate of capital had ________ to do with the productivity problem
A) was, much
B) was, little
C) was not, much
D) was not, little
B
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In the case of a currency union, what is a nominal anchor?
A) It is the weight of the efficiency loss from changing to a common currency. B) It is an independent value, such as the value of the common currency unit, constraining the ability of a nation to inflate its currency and prices. C) It is a nominal measure of GDP that is not the same as the measure for real GDP. D) It links that nation to other members of the currency union and permits no trade or financial relationships outside the union.
Refer to Table 2-20. Does either Japan or Thailand have an absolute advantage and if so, in what product?
A) Thailand has an absolute advantage in rice. B) Japan has an absolute advantage in rice. C) Japan has an absolute advantage in wristwatches. D) Thailand has an absolute advantage in both products.