The implementation of the assembly line is an example of how
A) changes in the organization of production improve productivity.
B) neutral technical change improves productivity.
C) non-neutral technical change can decrease productivity.
D) labor saving technical change increases economy-wide unemployment.
A
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In an open economy, an increase in net exports because of increased demand for domestic products by foreigners should cause the domestic real interest rate to ________ and should cause desired saving minus desired investment to ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Why is our ability limited in using economic fundamentals to predict exchange-rate movements for short periods into the future? Why is there some success in predicting exchange rates in the long run?
What will be an ideal response?
The size of the multiplier is equal to the:
A. slope of the consumption schedule. B. reciprocal of the slope of the consumption schedule. C. slope of the saving schedule. D. reciprocal of the slope of the saving schedule.
If a farmer produces 1000 bushels of corn using ten acres of land and one tractor and is able to produce 2000 bushels of corn using twenty acres of land and one tractor, the farmer has
A) increasing returns to scale. B) constant returns to scale. C) decreasing returns to scale. D) no returns to scale.