From 1990-2014, productivity growth in the United States was ________ the growth rates of other high-income countries
A) greater than B) equal to
C) greater than for the first 15 years, then less than D) less than
A
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The above figure shows a nation's production function. Point C is
A) unattainable given the nation's resource level. B) attainable if the nation uses resources efficiently. C) attainable if the nation uses resources inefficiently. D) the maximum amount of real GDP the nation can produce. E) the labor market equilibrium point.
Keynes was motivated to create a macroeconomic theory different from classical theory because
A) he believed in government intervention in the economy. B) he believed in the idea of the invisible hand. C) monetary policy was more important than the classicals acknowledged. D) classical theory was inconsistent with the data in the Great Depression.