Which of the following would not be expected to increase labor productivity?
A. Technological advance.
B. The acquisition of more education and training by the labor force.
C. An increase in the size of the labor force.
D. The realization of economies of scale.
C. An increase in the size of the labor force.
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Firms in perfect competition produce the productively efficient output level in the short run and in the long run
Indicate whether the statement is true or false
Suppose Congress passes a law that states that the federal government will pay $100 to any American citizen who can pass a (reasonably simple) current political events test. It follows that
A) this raises the benefits of being rationally ignorant. B) this raises the benefits of becoming informed and therefore will lower the degree of rational ignorance in society. C) this raises the costs of being rationally ignorant. D) b and c E) none of the above