Multiple Choice
An increase in total factor productivity
A) increases consumption, reduces output, and increases the real wage.
B) reduces consumption, reduces output, and reduces the real wage.
C) increases consumption, increases output, and increases the real wage.
D) reduces consumption, increases output, and increases the real wage.
E) reduces consumption, increases output and reduces the real wage.
Correct Answer:

Verified
Correct Answer:
Verified
Q42: An increase in total factor productivity shifts
Q43: A Pareto optimum requires<br>A) <span
Q44: In a one-period economic model, the government
Q45: Examples of exogenous variables include<br>A)labour supply and
Q46: A competitive equilibrium has the following
Q48: In the long run in the model
Q49: In the basic one-period model in Chapter
Q50: A competitive equilibrium is Pareto-optimal if there
Q51: What are three reasons for a competitive
Q52: Changes in government spending are NOT likely