Which of the following factors can partly explain the long-term growth in production in the U.S. economy?
a. Trade surpluses and accumulation of precious metals
b. A gradual but consistent increase in the price level
c. Growth in population
d. Improvements in technology
e. Federal government budget deficits
d
Economics
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In the short run, the supply of a resource will generally be
a. less elastic than in the long run. b. more elastic than in the long run. c. equally elastic as the supply of the resource in the long run. d. inversely related to the elasticity of demand for the product that the resource helps produce.
Economics
Give an historical example of an efficiency wage that was considered by the firm to be "one of the finest cost-cutting moves we ever made."
Economics