The above figure shows the cost curves for a competitive firm. If the profit-maximizing level of output is 40, price is equal to

Refer to the Article Summary. Labor productivity in the UK was well below the productivity in five of the other G7 nations, only faring better than Japan.. Labor productivity is important for an economy because an increase in labor productivity

A) will increase output and decrease wages in the long run. B) will increase the labor force participation rate. C) will create short-run, but not long-run, economic growth. D) allows the average consumer to increase consumption.

In 2008, nominal GDP was equal to $14,265 billion while the M1 money supply was $1,423 billion. What was the velocity of the M1 money stock?

a. 1.0 b. 10.0 c. 1.8 d. 0.1