If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2016, what will the Bureau of Labor Statistics do
in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2016?
A) The BLS will not change the growth rate of productivity.
B) The BLS will adjust the growth rate downwards.
C) The BLS will adjust the growth rate upwards.
D) The BLS will adjust the level of labor productivity upward and the growth rate downward.
B
You might also like to view...
Fiat money
A) serves well as a medium of exchange, but not as a store of value. B) has no or very little value except as money. C) is rarely used in modern economies. D) functions well only if can be redeemed for gold or other precious metals.
Which of the following is true of an economic model? a. It is a simplified representation of a situation that includes enough of the key features to be useful. b. It is always based on a mathematical formula
c. It is a physical representation of a real world situation in a laboratory. d. It is always named after the economist who devises it.