A productivity increase is illustrated by a shift in the production function
A. downward.
B. leftward.
C. upward.
D. rightward.
Answer: C
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Consumption spending will ________ when disposable income ________
A) increase; decreases B) decrease; increases C) change unpredictably; decreases D) increase; increases
In the purely competitive case, marginal revenue (MR) is equal to:
a. cost b. profit c. price d. total revenue e. none of the above
If the economy unexpectedly went from inflation to deflation,
a. both debtors and creditors would have reduced real wealth. b. both debtors and creditors would have increased real wealth. c. debtors would gain at the expense of creditors. d. creditors would gain at the expense of debtors.
A manager wishes to estimate an average cost equation of the following form:C = a + bQ + cQ2whereQ is the level of output. Letting Z = Q2 and using least-squares estimation, the manager obtains the following computer output:
Given the above information, the value of R2 indicates that ________ of the total variation in C is explained by the regression equation.
A. 7679% B. 7.679% C. 76.79% D. 0.7679%