Technological progress directly raises output, but also slows capital deepening
Indicate whether the statement is true or false
FALSE
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The list of the major factors that create economies of scale includes all of the following except:
A) specialization and division of labor. B) quantity discounts. C) an increase in demand for the firm's output. D) the use of automation devices.
If a monopolist is producing the quantity at which marginal revenue equals marginal cost, it should
A) continue to produce this amount if it wants to maximize profits. B) reduce output if it wants to maximize profits. C) increase price and keep output unchanged if it wants to maximize profits. D) increase output if it wants to maximize profits.
Other things the same, a decrease in the price level makes the dollars people hold worth
a. more, so they can buy more. b. more, so they can buy less. c. less, so they can buy more. d. less, so they can buy less.
Which of the following is a determinant of Investment spending?
A. Expected future income B. Real income C. Wealth D. Taxes