If a technological change occurs such that the production function shifts from q = 10K0.5 L0.5 to q = 10.5K0.3 L0.5, then the technological change is
A) both neutral and non-neutral.
B) neutral.
C) non-neutral.
D) Not enough information given.
A
You might also like to view...
Business owners who care only about maximizing profits are
a. likely to discriminate against certain groups of workers. b. likely to be replaced by discriminating businesses. c. more concerned about racial discrimination than gender discrimination. d. at an advantage when competing against those who practice employment discrimination.
A household ________ as long as the utility from the good's consumption is less than its market price.
A. will only buy a good B. should never sell a good C. will always buy a good D. should never buy a good
The minimum wage laws seek to
A) penalize employers that are not complying with labor laws. B) assure a minimum standard of payment for work. C) assure that all workers are paid the same wage rate. D) help teenagers find work.
Index of the average prices of goods and services throughout the economy (up when prices rise, down when prices fall)
What will be an ideal response?