The future of the U.S as leader of the economic world:
a. is likely to continue for generations to come
b. will be sustained in the next generation, but not beyond
c. requires U.S. action in several critical economic areas
d. requires a return of manufacturing to the U.S.
c
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The substitution effect of a price change refers to
A) the change in quantity demanded that results from a change in price making a good more or less expensive relative to other goods that are substitutes. B) the shift in the demand curve due to a change in purchasing power brought about by the price change. C) the movement along the demand curve due to a change in purchasing power brought about by the price change. D) the shift of a demand curve when the price of a substitute good changes.
Increases in the marginal product of labor result from
A) increasing the usage of all inputs. B) the division of labor and specialization. C) the use of new technology. D) hiring more efficient workers.