A welding machine is an example of a factor of production if it is being used to produce automobiles
Indicate whether the statement is true or false
TRUE
You might also like to view...
Which of these is an argument for using the potential compensation criterion?
a. If the winners can compensate the losers, no one is harmed by employing the criterion. b. The criterion does not employ interpersonal utility calculations. c. If employed over a large number of policy changes, everyone should enjoy a net gain in the long run. d. It is easy to determine the magnitude of the wins and losses.
A good for which the demand falls when income rises
a. demand curve b. income effect c. elastic d. inferior good
Exhibit 14A-1 Aggregate demand and supply model
?Beginning from short-run equilibrium at point E2 in Exhibit 10A-1, the economy's movement to a new position of long-run equilibrium would best be described as:
A. ?a movement along the AD2 curve with a shift in the SRAS1 curve. B. ?a movement along the SRAS2 curve with a shift in the AD2 curve. C. ? a shift in the LRAS curve to an intersection at E1. D. ?no shift of any kind.
For this question, assume that expectations of P and A are correct. Now suppose that there is a 4% increase in A. Given this information, which of the following will occur?
A) The PS relation will shift up by 4%. B) The WS relation will shift up by less than 4%. C) The WS relation will shift down by 4%. D) The PS relation will shift down by 4%.