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:

Small Business Administration (SBA)

A U.S. government agency that provides support to entrepreneurs and small businesses through loans, loan guarantees, counseling, and other assistance programs.

Exporting Goods

The act of sending goods or services produced in one country to another country for sale or trade.

U.S. Companies

Businesses that are registered, operate, or are headquartered in the United States.

Business Failure

The cessation of operations and the closing of a business due to its inability to make a profit or cover its expenses, leading to financial losses for owners and investors.