If the UK increases its level of labour productivity, this would mean that:
A) labour could earn the current level of income for fewer hours worked.
B) output would fall as the number of hours worked will decline.
C) the number of hours worked would be higher in the UK than in other countries.
D) the same level of output will be produced in a higher number of hours.
Correct Answer:
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Q6: The aggregate supply curve is _.
A) the
Q7: Economic growth is measured as the:
A) percentage
Q8: Which of the following measures the productivity
Q9: The neoclassical model of economic growth suggests
Q10: Which of the following statements is true?
A)
Q12: Assuming that the supply of labour is
Q13: Assuming that the economy is producing at
Q14: The long-run aggregate supply curve will shift
Q15: Which of the following will lead to
Q16: Economic growth will _.
A) shift the long-run
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