A corporation has legal status like an individual citizen.
Answer the following statement true (T) or false (F)
True
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An increase in total factor productivity shifts the production function
A) upward and increases the marginal product of labor. B) upward and decreases the marginal product of labor. C) downward and increases the marginal product of labor. D) downward and decreases the marginal product of labor.
You using a Laspeyres (fixed-weight )price index to compare price changes over time, and the index is based on consumption bundles from 2005 when energy costs were lower and housing costs were higher. Your results are likely to:
A) Overstate changes in the cost of living because the weight assigned to energy is too small. B) Overstate changes in the cost of living because the weight assigned to energy is too large. C) Understate changes in the cost of living because the weight assigned to housing is too small. D) Understate changes in the cost of living because the weigh assigned to housing is too large.
An exchange rate appreciation will shift the aggregate demand curve inward
a. True b. False Indicate whether the statement is true or false
When interpreting the meaning of an exchange rate, the first step is to always:
a. know exactly what the exchange rate signifies in terms of which currency is the denominator. b. watch for ways the currency might lose value. c. learn about recent behavior of the exchange rate. d. know exactly what the rate is at any moment in time.