An increase in capital stock will shift the production function
a. downward.
b. rightward.
c. upward.
d. outward.
c
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Which of the following statements is true?
A) Proximate causes of prosperity are shaped by fundamental causes of prosperity. B) Proximate causes of prosperity are effective only in the short run. C) Fundamental causes of prosperity are effective only in the short run. D) Fundamental causes of prosperity are shaped by proximate causes of prosperity.
The table below shows four alternative techniques for assembling a car. Which of the four techniques for assembling a car cannot be economically efficient with any input prices?
A) T-1 B) T-2 C) T-3 D) T-4
An individual would be most likely to increase the amount of money he wants to hold if
a. the price level declines b. the price level declines and the interest rate increases c. his real income increases d. the interest rate increases e. the interest rate and his real income decrease
Matt Taylor is one of the fishermen who comes back to the dock at the end of a fishing day with 720 fish in his boat. He and 40 other fishermen crowd the dock with their fish supplies while hundreds of people, eager to buy fish, make their demands felt on the market. Matt knows that for that fishing day
a. price cannot change b. the market-day supply curve is vertical c. the market-day demand curve is vertical d. quantity demanded is fixed e. his short-run supply curve is upward sloping