The Increase in Productivity That Has Occurred in the U

question 75

Multiple Choice

The increase in productivity that has occurred in the U.S.economy since the mid-1990s is mainly a result of

• A)less government spending.
• B)an increase in the rate of growth of technology.
• C)more government spending.
• D)an increase in the rate of growth of the labor force.
• E)an increase in the rate of growth of the capital stock.

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Definitions:

Price

The cost associated with acquiring a good, service, or asset.

Income Decreases

A situation where an individual's or household's earnings fall over a period, affecting their purchasing power and standard of living.

Choice Set

The collection of options or alternatives from which a decision-maker is able to choose in a decision-making process.

Marginal Utility

The additional satisfaction or utility received by a consumer from consuming one more unit of a good or service.