Of the determinants of labor productivity, the more important one is
A) the capital-labor ratio.
B) the size of the labor force.
C) total factor productivity.
D) the hours worked by the labor force.
C
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Which of the following is an example of a positive, as opposed to normative, statement?
a. When the minimum wage is increased, unemployment is a predictable consequence. b. The income tax rate should be increased to offset the budget deficit. c. Increasing government spending is the best way to help the economy move out of a recession. d. More than one of the above are positive statements.
Firms disclose financial statements in ________ and in ________
A) periodic filings to the federal government; annual reports to shareholders B) daily filings to the federal government; daily reports to shareholders C) monthly reports to shareholders; 5-year balance statements to the board of directors D) weekly filings with the SEC; monthly reports to the Fed