With fixed quantities of capital, land, and entrepreneurship and fixed technology, the amount of real GDP produced increases when ________ increases
i. the quantity of labor employed
ii. the inflation rate
iii. the price level
A) i only
B) ii only
C) iii only
D) ii and iii
E) i, ii, and iii
A
You might also like to view...
Why, in the U.S., do professional soccer players command a far lower salary than professional baseball players?
A) Soccer is in much less demand. B) Soccer costs less to manage and perform compared to baseball. C) Soccer has yet to mature. D) The baseball players prefer lobbied to keep soccer salaries low.
Which of the following products may have a free-rider problem?
A) On-the-job training programs B) Environmental protection programs C) Movie DVDs D) Mobile phones
Starting in 2008 and continuing into 2012, the Japanese yen kept appreciating against the U.S. dollar, hurting Japanese exports to the U.S
Indicate whether the statement is true or false
The supply of loanable funds curve reflects
a. the inverse relationship between the market interest rate and the quantity of borrowed funds b. the inverse relationship between the market interest rate and the quantity of saving c. the direct relationship between the market interest rate and the quantity of borrowed funds d. the direct relationship between the market interest rate and the quantity of saving e. the direct relationship between the market interest rate and the quantity of present consumption