Multiple Choice
Which of the following would shift the production function upward?
A) an increase in the price of oil
B) an increase in the availability of a natural resource
C) a decrease in the supply of labor
D) an increase in the nominal wage rate
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q116: If an economy grows at a constant
Q117: Which of the following must also shift
Q118: In the long run, economic growth can
Q119: Economic growth occurs when<br>A) nominal GDP increases.<br>B)
Q120: Using actual values of real GDP to
Q122: Suppose labor is the only variable that
Q123: Use the following to answer questions.<br>Exhibit: Aggregate
Q124: Economic growth is represented by an outward
Q125: If real GDP grows at 3% and
Q126: According to the rule of 72, a