Labor productivity depends on the
a. the effectiveness of government
b. the size of the economy
c. the proportion of the labor force that is unionized
d. the amount of capital
e. All of the answers are correct
A
Economics
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Which of the following statements concerning economic models is FALSE?
A) Economic models must provide usable predictions. B) Economic models are based on pure fact and no assumptions. C) Economic models are tested empirically. D) Economic models relate to how people behave.
Economics
If the percentage change in quantity demanded is zero for any percentage change in the price of the good, demand is classified as:
A. perfectly inelastic. B. inelastic. C. unit elastic. D. perfectly elastic.
Economics