A firm increased its production and sales because the firm's manager rearranged the layout of his factory floor. This is an example of
A) investment in human capital.
B) economies of scale.
C) positive technological change.
D) inspired management.
Answer: C
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If the Fed increases the real interest rate as a response to a decrease in the inflation rate, the ________, which results in a ________
A) MP curve shifts up; movement down the AD curve B) MP curve shifts up; movement up the AD curve C) IS curve shifts up; movement down the AD curve D) IS curve shifts up; movement up the AD curve
If the Habakkuk thesis had been correct—unamended by Rosenberg, David and others—a long-run decline in the supply of agricultural productivity west of the Appalachians would be matched by a proportional
(a) decline in the productivity growth in eastern manufacturing. (b) increase in productivity in eastern manufacturing. (c) rise in American food imports. (d) rise in American exports of manufacturing.
The closer a market's Herfindahl-Hirschman Index (HHI) is to ________ the more competitive the market, which means there are ________ firms in the market.
A) 10,000; few B) 10,000; many C) 100; many D) 100; few
In the marginal productivity theory of income distribution, when all markets are purely competitive, the payment for each unit of a resource is equal to its:
A. Total product B. Marginal product C. Marginal revenue product D. Total revenue product