Which of the following is true of an improvement in technology?
a. An improvement in technology shifts the per-worker production upward
b. An improvement in technology shifts the per-worker production downward.
c. An improvement in technology increases the concavity of the production possibilities frontier.
d. An improvement in technology decreases the concavity of the production possibilities frontier.
e. An improvement in technology increases the quantity of input in the production process.
a
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The anticipated inflation rate is an important component of the nominal interest rate
a. True b. False Indicate whether the statement is true or false
Karl Marx was a (an):
a. 14th century Polish banker. b. 18th century Russian economist. c. 19th century Russian journalist. d. 19th century German philosopher.
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