An activist policy to promote high employment ________
A) could lead to inflationary pressures from an ensuing temporary negative supply shock
B) might incentivize workers to push for higher wages beyond what productivity gains can justify
C) could lead to inflationary pressures from an ensuing increase in aggregate demand
D) all of the above
E) none of the above
D
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Economists use GDP to determine
A) the economic performance of a country over time. B) the well-being of a country's citizens. C) the financial stability of a nation. D) the overall money supply within a nation. E) all of the above.
In the early 1900s, Henry Ford revolutionized the automotive manufacturing industry by instituting the assembly line. What impact did the assembly line method for producing automobiles have on the per-worker production function for Ford?
A) It became linear. B) It shifted down. C) It shifted up. D) It became flatter.