The aggregate production function of an economy shifts upward when ________ produce a higher output
A) the same amount of capital and labor
B) the same amount of capital and a higher amount of labor
C) a higher amount of capital and labor
D) the same amount of labor and a higher amount of capital
A
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What is the drop-in-the-bucket problem?
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Which statement is true?
A. William Julius Wilson and Charles Murray are basically in agreement about the causes of the formation of a permanent underclass. B. The permanent underclass has more white members than black members. C. There is very little evidence to show that there is actually a permanent underclass. D. There are more poor whites than poor blacks in the United States.
The short-run profit-maximizing output level for a monopolistically competitive firm is the point at which
A) P = ATC. B) MR = MC. C) MR > P. D) MR > ATC.