Multiple Choice
In Econland population increased from 1 million to 1.1 million, the number of employed workers increased from 500,000 to 600,000, but average labor productivity decreased from $20,000 per worker per year to $18,000 per worker per year. Total output in Econland ________ and the average standard of living ________.
A) decreased; decreased
B) decreased; increased
C) increased; decreased
D) increased; increased
Correct Answer:

Verified
Correct Answer:
Verified
Q115: _ analysis addresses the question of whether
Q116: If total output increases from $100 billion
Q117: In the 1950's and 1960's the European
Q118: "Any additional increases in government spending should
Q119: A decision by Congress to reduce spending
Q121: Economic analysis is useful in resolving all
Q122: A decision to join a free trade
Q123: Compared to the 1950-1973 period, output per
Q124: Output per employed worker is called:<br>A)total output.<br>B)average
Q125: ALL of the following describe economic conditions