Productivity growth is important because:
a. it is the only way an economy can increase GDP
b. a small decrease in productivity growth causes a large decline in GDP.
c. a large increase in productivity growth causes a small decrease in GDP.
d. it causes an increase in the quantity of all resources available to an economy.
e. it ultimately increases a nation's standard of living.
e
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The median-voter model attempts to explain
a. why law partners can seldom agree on the division of costs b. why, in a democracy, the preferences of the typical voter often will dominate other choices c. why democracies can evolve into dictatorships d. elections in which candidates present widely different platforms e. conditions under which majority rule is better than market exchange
President Bush imposed temporary tariffs on imported steel in 2002 . The reasons for this trade restriction is most consistent with the
a. national-security argument. b. infant-industry argument. c. unfair competition argument. d. protection-as-a-bargaining chip-argument.