The marginal product of any factor of production depends on
a. the quantity of the factor used.
b. the price of the final good.
c. the demand for the final good.
d. All of the above are correct.
a
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________ shifts the consumption function upward
A) A decrease in the marginal propensity to consume B) An increase in the price level C) An increase in the real interest rate D) An increase in expected future disposable income E) An increase in disposable income
In relatively poor economies, modest expenditures on public health (immunization of children) can produce large improvements
What does this imply about the accuracy of the growth rate of real GDP as a measure of national well-being? How is the situation different in rich economies?
Technological progress directly raises output, but also slows capital deepening.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.