Refer to Figure 22-4. The movement from A to B to C illustrates
A) an improvement in technology. B) diminishing returns to labor.
C) a decline in capital per worker. D) diminishing returns to capital.
D
Economics
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An expenditure-changing policy
A) alters the direction of the economy's total demand for goods and services. B) alters the level of the economy's total demand for goods and services. C) has no effect on aggregate demand. D) is the same thing as an expenditure-switching policy. E) affects aggregate supply but not aggregate demand.
Economics
When measuring economic growth, economists typically focus on per capita real GDP in order to account for variations in the:
a. size of the population b. price level c. quality of goods and services d. both (a) and (b) above
Economics