Multiple Choice
An increase in total factor productivity shifts the production function
A) upward and increases the marginal product of labour.
B) downward and decreases the marginal product of labour.
C) upward and decreases the marginal product of labour.
D) upward and increases the marginal product of capital.
E) downward and increases the marginal product of labour.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: That indifference curves are bowed in toward
Q38: For macroeconomic purposes, it is assumed that
Q39: An economy without monetary exchange is called<br>A)a
Q40: When consumers act as price-takers, we say
Q41: An indifference curve<br>A)connects a set of consumption
Q43: A barter economy<br>A)is an economy without monetary
Q44: The Solow residual is a measure of<br>A)average
Q45: A good is inferior for a consumer
Q46: As the quantity of labour increases, the
Q47: An increase in total factor productivity<br>A)changes neither