Some economists argue that the productivity slowdown from mid-1970s to mid-1990s actually didn't happen, but just "appeared" to happen because
A) exports were becoming a less important part of the economy, and it was hard to measure decreases in output from exports.
B) of the high inflation levels of the 1970s.
C) new environmental laws had passed and forced firms to spend to reduce pollution, and this spending did not raise output.
D) increased spending on health and safety raised worker productivity.
C
You might also like to view...
The long-run effect of a decrease in household consumption is to lower
a) the price level and leave real output unchanged. b) real output and leave the price level unchanged. c) both real output and the price level. d) real output and raise the price level.
Virtual currency unit 3 (VCU3) is different from VCU2 because:
a. VCU2 cannot be spent in the real world; VCU3 can be spent in the real world. b. In terms of convertibility, there is no difference; both VCU2 and VCU3 can be purchased with and sold for legal tender. c. VCU3 can directly affect real world demand, whereas VCU2 cannot affect real-world demand. d. In terms of their potential to change a nation's M2 money supply, there is no difference because neither VCU3 nor VCU2 affect M