Total efficiency units of labor in an economy increases if ________
A) the average number of hours worked by each worker decreases
B) each worker becomes more productive
C) each worker earns a lower wage
D) the amount of capital available to each worker diminishes
B
Economics
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If the Fed raises the federal funds rate,
A) investment increases. B) real GDP increases. C) exports increase and imports decrease. D) exports decrease and imports increase. E) in the short run the interest rate falls.
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When market wages increase in a perfectly competitive market, then
A. the marginal factor cost increases. B. the marginal factor cost decreases. C. the marginal product decreases. D. the marginal product increases.
Economics