Which of the following best describes the rate of growth in productivity in the United states over the last fifty years ?
Correct answer: C. Productivity grew quickly in the 1950s and 1960s more slowly from the early 1970s through 1995 and then quickly again
- A. Productivity growth has been steady over the last 50 years
- B. Productivity has been growing more slowly every decade since world War II
- C. Productivity grew quickly in the 1950s and 1960s more slowly from the early 1970s through 1995 and then quickly again
- D. Productivity grew slowly from the 1950s through the 1970s and then began to accelerate probably due to advances in computer technology
Explanation
US productivity rose rapidly in the 1950s and 1960s, slowed from the early 1970s to the mid-1990s, and accelerated again during the computer and information-technology boom. This pattern matches option c rather than a constant or continuously declining trend.
Last updated
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,462 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Economics questions like this
Economics is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
Related questions
1. The most widely traded currency in the foreign exchange market is the ?
85% of the world's population lives in developing countries and receives about _____ of the world's income?
A 44-nation survey regrading religions found that_________________?
A bank has excess reserves to lend but is unable to find anyone to borrow the money This will _________ the size of the money multiplier?
A capital account surplus might be expected to cause a current account deficit because the associated ?