The slope of the isocost line tells the firm how much
A) capital must be reduced to keep total cost constant when hiring one more unit of labor.
B) capital must be increased to keep total cost constant when hiring one more unit of labor.
C) more expensive a unit of capital costs relative to a unit of labor.
D) the isocost curve will shift outward if the firm wishes to produce more.
A
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The following table shows values of annual real GDP per capita over time. Use it to answer the next question.1810$1,5001860$2,1001910$3,9001960$18,0002010$43,600Between which years was the rate of growth in real GDP per capita the highest?
A. 1960 to 2010 B. 1860 to 1910 C. 1810 to 1860 D. 1910 to 1960
If potential output exceeds actual output, ________ shifts downward over time
A) the short-run AD curve B) the long-run AD curve C) the long-run AS curve D) the short-run AS curve
Appreciation is the term used to describe
a. the conversion of one currency into another currency in the free market b. a reduction in the official value of a currency. c. the upward movement of currencies in a free market. d. an increase in the official value of a currency.
Which of the following is not included in aggregate demand?
What will be an ideal response?