Which of the following is true about labor productivity?
A) it is the amount of total factor productivity (TFP) per unit of labor
B) it is more difficult to measure than TFP
C) it is a more general and better measure of productivity than TFP
D) all of the above
E) none of the above
E
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Which of the following firms is most likely to be a monopoly?
A) local restaurant B) local distributor of natural gas C) local book store D) clothing store E) local bank
Suppose the government increases the corporate income tax rate. This is
A) an expansionary fiscal policy that will shift the aggregate demand curve to the right by an amount equal to the initial change in corporate income tax revenue times the spending multiplier. B) a contractionary fiscal policy that will shift the aggregate demand curve to the left by an amount equal to the initial change in investment times the spending multiplier. C) a contractionary fiscal policy that will shift the aggregate demand curve to the left by an amount equal to the initial change in the corporate income tax rate times the spending multiplier. D) an automatic fiscal policy that will shift the aggregate demand curve to the left by an amount equal to the initial change in investment times the spending multiplier.