Productivity growth in the service sector
a. is notoriously difficult to measure.
b. is comparable to productivity growth in agriculture.
c. has been slow compared with productivity growth in manufacturing.
d. Both a and b are correct.
e. Both a and c are correct.
e. Both a and c are correct.
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Money exchanges are more efficient than barter because:
a. money exchanges do not require a double coincidence of wants. b. the government guarantees the value of money. c. money usually has an intrinsic value. d. money is backed by a physical commodity. e. opportunity costs are higher with barter trades.
A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings results in
a. frictional unemployment. b. structural unemployment. c. cyclical unemployment. d. a higher labor force participation rate.