From the mid-1960s to the present, what would a graph of U.S. productivity rates against time reveal?
(a) A stable upward trend in the amount of output per paid hour
(b) An unstable but upward trend
(c) A U-shape
(d) A downward trend
(c)
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A newspaper headline asserts: "Rising Demand Pushes Up Housing Prices." This headline
A) incorrectly implies that the demand for housing can change, whereas in fact only the quantity of housing demanded can change. B) incorrectly implies that the price of housing will rise when demand increases. C) incorrectly implies that more housing will be demanded at higher prices. D) correctly implies that an increase in demand will increase the market clearing price.
Fractional reserve banking began as a search for
A. a different metallic monetary system. B. additional sources of gold. C. different types of borrowers. D. additional profits.