If a firm increases its capital stock per person while holding constant the number of workers employed, the firm is said to experience:
A. capital augmentation.
B. investment deepening.
C. labor intensity.
D. capital deepening.
Answer: D
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The ___________ Act has been depicted as anti-labor, and pro-employer.
Fill in the blank(s) with the appropriate word(s).
The aggregate demand curve slopes downward indicating that:
A. an increase in the general price level will reduce the aggregate quantity of goods and services demanded. B. an increase in the general price level will increase the aggregate quantity of goods and services demanded. C. a change in the interest rate will alter the aggregate quantity of goods and services demanded. D. consumers substitute between domestic-made and foreign-made goods as their relative prices change.
Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a personal trainer. Pat makes $50,000 in total annual revenue. Pat's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment. Pat's explicit costs are ________, and Pat's implicit costs are ________.
A. $16,000; $51,000 B. $16,000; $35,000 C. $15,000; $36,000 D. $35,000; $16,000
Assume Sally is initially in equilibrium and that X and Y are normal goods for her. Then the price of X rises. For Sally to move to a new equilibrium point, her consumption of
A. X must increase. B. X must remain constant, but her consumption of Y must increase. C. both X and Y must increase. D. X must decrease.