If labor productivity growth slows down in a country, this means that the growth rate in ________ has declined
A) labor force participation
B) the quantity of goods or services that can be produced by one hour of work
C) the working-age population
D) nominal GDP
Answer: B
Economics
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Input demand functions that are calculated from profit functions differ from those calculated from cost functions because:
a. they assume cost-minimization. b. they hold output constant. c. they assume output price is constant. d. they assume output is set at its profit-maximizing level.
Economics
An application of behavioral economics is:
A. price inconsistency. B. rational cost-price decision making. C. forgetting the fungibility of money. D. All of these are applications of behavioral economics.
Economics