An increase in labor productivity relates to
A) working harder over time.
B) working longer over time.
C) producing the same output with fewer labor hours.
D) producing the same output with more labor hours.
C
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The oligopoly dilemma is whether to ________
A. act together to restrict output and raise the price B. raise the price to the monopoly profit-maximizing price C. cheat on others in the cartel to take advantage of profit opportunities D. lower the price to the perfectly competitive price
The current account surplus is
A) an increasing function of disposable income and an increasing function of the real exchange rate. B) a decreasing function of disposable income and a decreasing function of the real exchange rate. C) a decreasing function of disposable income and an increasing function of the real exchange rate. D) only a decreasing function of disposable income. E) only an increasing function of the real exchange rate.