Some Economists Argued That the Productivity Slowdown of the Mid-1970s

question 46

Multiple Choice

Some economists argued that the productivity slowdown of the mid-1970s to the early 1990s was due to changes in oil prices that:

• A)increased production costs, causing firms to reorganise production to conserve energy, which reduced output per worker.
• B)decreased production costs, causing firms to reorganise production to conserve energy, which reduced output per worker.
• C)increased production costs, causing firms to reorganise production to conserve energy, which increased output per worker.
• D)decreased production costs, causing firms to increase production, which reduced output per worker.

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Definitions:

Par Value

The face value of a bond or stock as stated on the certificate, which is the minimum amount the security can be sold for upon initial offering.

Stated Value

The amount per share assigned by the board of directors to no-par value stock.

Per Share Value

The financial value of a single share of a company's stock, representing a fraction of the corporation's assets and earnings per share.

Market Value

The prevailing market rate at which a service or asset is available for purchase or sale.