Principles of Macroeconomics: A Study Guide

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Chapter 7: Long-Run and Short-Run Concerns; Growth, Productivity, Unemployment, and Inflation Multiple Choice
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1. The growth of output per worker, or "labor productivity," during the past forty years shows: An upward trend from the 1950s to the 1970s, then a downward trend from the 1970s to the 1990s. Faster growth from the 1950s to the 1970s than from the 1970s to the 1990s. Faster growth from the 1970s to the 1990s than from the 1950s to the 1970s. A steady and stable upward trend with a virtually constant rate of growth during the 40- year period. 2. Which of the following would result in an increase in output? The addition of more workers. The addition of more machines. An increase in the length of the workweek. An increase in the quality of the workers or the quality of the machines. All of the above. 3.
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Which of the following expressions is the unemployment rate? 4. Which of the following statements is correct? Both the unemployment rate and the labor-force participation rate have grown steadily since 1953. Both the unemployment rate and the labor-force participation rate have declined steadily since 1953. Since 1953, the unemployment rate has grown steadily, but the labor-force participation rate has gone up and down. Since 1953, the unemployment rate has gone up and down, but the labor-force participation rate has grown steadily.
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