Explain the productivity curve and how the components interact
What will be an ideal response?
The productivity curve is a relationship that shows how real GDP per hour of labor varies as the amount of capital per hour of labor changes with no change in technology. An increase in the amount of capital per hour of labor leads to a movement along a productivity curve. An increase in technology shifts the productivity curve upward.
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Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The two reasons a nation like Alphonia would dump products in another nation are
A) import licensing and outsourcing. B) price discrimination and import licensing. C) price discrimination and predatory pricing. D) outsourcing and predatory pricing.
Under what conditions might a monopoly lose money?
Each point of a firm's supply curve represents a price-quantity pair where:
A. MC = MR. B. MC = ATC. C. P = min AVC. D. P = min ATC.
In 2008 if the poverty line had been set higher, the poverty rate would have been _______.
Fill in the blank(s) with the appropriate word(s).