Moving along the aggregate production function shows the relationship between ________, holding all else constant
A) capital input and real GDP
B) labor input and real GDP
C) labor input, capital input and real GDP
D) technology and real GDP
B
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With debt financing
A) moral hazard problems are eliminated. B) moral hazard problems are reduced but not eliminated. C) adverse selection problems are eliminated. D) firms reduce the risk that they will become bankrupt during a recession.
If the salvage value is positive the net present value of an investment ________ and this ________ the likelihood that managers will undertake the project.
A) decreases; decreases B) increases; increases C) increases; decreases D) decreases; increases
Which of the following is true for a perfectly competitive agricultural market with economic profits?
A. Firms will exit until normal profits are zero. B. The profits will last indefinitely since there are barriers to entry. C. No entry or exit will occur based on economic profits. D. Firms will enter and existing firms will increase their production until economic profits are zero.
When workers subdivide the tasks of a job in such a way so as to become more efficient, economists refer to this as
A. the degrees of freedom. B. the division of tasks. C. the division of labor. D. the separation of powers.