An increase in total factor productivity shifts the production function
A) downward, and also changes its slope.
B) upward, but does not change its slope.
C) downward, but does not change its slope.
D) upward, and also changes its slope.
E) upward, but reduces the marginal product of labour.
Correct Answer:
Verified
Q41: In an economic model, an exogenous variable
Q42: A relationship that shows the technological possibilities
Q43: Fiscal policy refers to a government's choices
Q44: In the model with Keynesian sticky wages
Q45: In the model with Keynesian sticky wages
Q47: Changes in government spending are NOT likely
Q48: The second fundamental theorem of welfare economics
Q49: The marginal rate of transformation is equal
Q50: The production possibilities frontier in the one-period
Q51: The rate at which one good can
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents