An increase in total factor productivity shifts the production function
A) upward, but does not change its slope.
B) upward, and also changes its slope.
C) downward, but does not change its slope.
D) downward, and also changes its slope.
E) upward, but reduces the marginal product of labour.
Correct Answer:
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Q46: In the model where G = qT,
Q47: Changes in total factor productivity are plausible
Q48: The Laffer Curve illustrates the relationship between
A)
Q49: An increase in total factor productivity involves
A)
Q50: Changes in government spending are not likely
Q52: Intertemporal substitution of labour suggests that
A) the
Q53: In the model where G = qt,
Q54: The substitution effect that results from a
Q55: An increase in total factor productivity
A) increases
Q56: Real business cycle theory argues that the
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