Which of the following is a true statement about factors relating to productivity growth in the last decade?
A. Information technology changes have had little measurable impact on U.S GDP growth
B. Average world productivity growth has exceeded U.S. productivity growth
C. United States productivity growth has exceeded average productivity growth in the rest of the world
D. European labor markets are more flexible than U.S labor markets
Answer: C. United States productivity growth has exceeded average productivity growth in the rest of the world
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Refer to the information. The addition of a $100 billion lump-sum tax:
The following information is for a closed economy:
A. reduces the MPC and increases the multiplier.
B. increases the MPC and decreases the multiplier.
C. increases both the MPC and the multiplier.
D. has no effect on either the MPC or the multiplier.
One result of adverse selection in the market for used cars is:
A. more lemons (low quality) may be offered for sale than plums (high quality). B. more plums (high quality) may be offered for sale than lemons (low quality). C. few lemons (low quality) are sold. D. no used cars are sold.