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

question 118

Multiple Choice

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

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

Monarchical Tendencies

Behaviors or practices within a political or organizational structure that resemble or lean towards a monarchy, such as centralized control or hereditary leadership.

Lust for Power

An intense desire or ambition to hold and exert power or control over others.

Articles of Confederation

The original constitution of the United States, ratified in 1781, which was replaced by the US Constitution in 1789.

Military Powers

The authorities and capabilities vested in a country's armed forces for defense, conflict resolution, and enforcement of national or international mandates.