A production method that relies on large quantities of machines and equipment and smaller quantities of labor is referred to as a:
A) variable-input-intensive method of production.
B) labor-intensive method of production.
C) technology-intensive method of production
D) capital-intensive method of production.
D
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In Figure 10-5 above, suppose that a "neutral" technological improvement occurs. This causes a movement of the steady-state point such as from points
A) A to B. B) D to B. C) D to C. D) A to C. E) A to D.
If the MPC = .75, the spending multiplier is:
a. 4. b. 5. c. 1.33. d. 1.20. e. .25.
Rational expectations theorists feel that the economy is ______ after macroeconomic shocks occur.
a. stable b. slower c. inoperative d. strongest
The PPF of a country will be skewed toward the good that:
A. uses its scarce factor intensively. B. uses its abundant factor intensively. C. uses its intensive factor abundantly. D. does not use its intensive factor abundantly.