Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(13) A decrease in total factor productivity shifts the production function a)upward, but does not change its slope. b)downward, but does not change its slope.

(13) A decrease in total factor productivity shifts the production function

a)upward, but does not change its slope.

b)downward, but does not change its slope.

c)downward, and also changes its slope.

d)None of the above

(14) Government spending in the one-period model acts to

a)shift out the production possibilities frontier.

b)make consumers less productive.

c)decrease hours of work.

d)reduce consumption.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microbiology A Systems Approach

Authors: Marjorie Kelly Cowan

5th Edition

1259947963, 9781259947964

More Books

Students also viewed these Economics questions