Of the following, which is the least likely example of an increase in total factor productivity?
A) the introduction of the assembly line
B) an increase in immigration
C) good weather
D) a reduction in the relative price of energy
B
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Graph typical total, average, and marginal cost curves and explain how their shapes are influenced by the law of diminishing returns. Graph TC on a separate graph, AC and MC on a second graph.
What will be an ideal response?
The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment
a. True b. False Indicate whether the statement is true or false
An increase in the nominal exchange rate, e, defined as the number of units of the foreign currency that one unit of the domestic currency will buy, indicates that the domestic currency has ________ relative to the foreign currency.
A. become undervalued B. depreciated C. appreciated D. become overvalued
If potential output is less than actual output, eventually the short-run aggregate supply curve will shift:
A. down and eliminate the recessionary gap. B. up and eliminate the recessionary gap. C. down and eliminate the inflationary gap. D. up and eliminate the inflationary gap.