Rising labor productivity means that less labor is needed to produce the same level of output

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Refer to Table 2-19. What is Wilma's opportunity cost of making a statue?

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A demand curve is said to be inelastic if:

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If a person has money in a bank account that pays 4% interest, but inflation rises to 5%, then the real rate of return for the money invested in that bank account is

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Suppose that a business discovers an opportunity that requires funds to exploit. What effect would this have in the market for loanable funds?

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Economics