If real GDP is $13,500 billion and aggregate hours are 110 billion, labor productivity equals
A) $6.75 per hour.
B) $104 per hour.
C) $123 per hour.
D) $675 per hour.
C
Economics
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Under a fractional reserve banking system, banks are required to
(a) keep part of their demand deposits as reserves (b) expand the money supply when requested by the central bank (c) insure their deposits against losses and bank runs (d) pay a fraction of their interest income in taxes (e) charge the same interest rate on all their loans
Economics
The Celler-Kefauver Act made it illegal to
a. provide selective discounts b. set prices below marginal cost c. conspire to collude d. buy a competitor's patents, plants, or equipment e. price discriminate
Economics