If there is an increase in labor productivity:
A. the production possibilities curve would shift outward and the long-run aggregate supply curve would shift leftward.
B. the production possibilities curve would shift inward and the long-run aggregate supply curve would shift rightward.
C. the production possibilities curve would shift inward and the long-run aggregate supply curve would shift leftward.
D. the production possibilities curve would shift outward and the long-run aggregate supply curve would shift rightward.
Answer: D
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High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $50?
A. 5 B. 3 C. 2 D. 1
See the information in Scenario 4.4. From this demand curve, one can infer that:
A) Rock and Roll Trivia is an inferior good. B) computers and diskettes are substitutes. C) computers and diskettes are complements. D) computers are a normal good. E) A, B and D are true.
There is anecdotal evidence to suggest that global inequalities are often rooted in inequities
Indicate whether the statement is true or false
Changes in the legal reserve requirement
a. are often implemented by the Fed to avoid disruption to both bank and borrowers b. affect total bank reserves c. are actively pursued by the member banks of the Fed d. are used to limit the lending activity of banks e. help to create the certainty that banks prefer to avoid