If a nation moves upward along its per-worker production function relating output per worker to capital per worker, then:
a. labor productivity rises.
b. labor productivity falls.
c. the amount of capital decreases, other things constant.
d. labor input decreases.
e. the productivity of capital rises.
QUESTION 2The Celler-Kefauver Act of 1950 amended the:
a. Sherman Antitrust Act.
b. Clayton Act.
c. Federal Trade Commission Act.
d. Robinson-Patman Act.
QUESTION 3The reserve ratio is the ratio of:
a. Federal Reserve member banks to nonmember banks.
b. Federal Reserve nonmember banks to member banks.
c. Federal Reserve member banks to all U.S. banks.
d. a bank's total deposits to its reserves.
e. a bank's reserves to its total deposits.
QUESTION 4If a firm engages in a merger that substantially reduces competition, then it would be in violation of the:
a. Clayton Act.
b. Robinson-Patman Act.
c. Sherman Antitrust Act.
d. Federal Trade Commission Act.
e. Celler-Kefauver Antimerger Act.
QUESTION 5An increase in the amount of capital per worker will:
a. increase labor productivity but not capital productivity.
b. increase capital productivity but not labor productivity.
c. increase both labor and capital productivity.
d. shift the per-worker production function upward.
e. increase total output but not the productivity levels of individual workers.
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