Suppose a country imposes new restrictions on how many hours people can work. If these restrictions reduce the total number of hours worked in the economy, but all other factors that determine output are held fixed, then
a. productivity and output both rise.
b. productivity rises and output falls.
c. productivity falls and output rises.
d. productivity and output fall.
b
Economics
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Few sellers and many buyers is characteristic of
a. monopoly b. monopolistic competition c. an oligopoly d. perfect competition
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Normal rate of return is
A) accounting profit. B) an explicit cost. C) economic profit. D) the amount that must be paid to obtain investment in a business.
Economics