Improvements in labor productivity
A) affect the level of wages, but do not affect the rate of economic growth.
B) affect the level of profit, but do not affect the rate of economic growth.
C) hinder economic growth, because they cause unemployment.
D) contribute to economic growth.
D
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Which of the following statements is true?
A) Cost-benefit analysis does not yield the same result as optimization analysis. B) A rational economic agent is not likely to optimize. C) Cost-benefit analysis can also be used for normative economic analysis. D) The net benefit of an option that costs $50 and provides a benefit of $100 is equal to $150.
Writing in the Wall Street Journal in 2009, economist Jeremy Siegel argued that, in the years leading up to the financial crisis of 2008–2009,
a. financial firms acted in too risky a fashion. b. the Federal Reserves's efforts to rein in the risky behavior of certain financial firms were inadequate. c. falling house prices "crashed the banks and the economy.". d. All of the above are correct.