Which of the following is a potential operating instrument for the central bank?

An advance in technology increases the productivity of labor. As a result, the nation's production function shifts ________ and the ________ labor curve shifts rightward

A) upward; demand for B) downward; demand for C) upward; supply of D) downward; supply of

Rent seeking lowers profits by

a. shifting the market demand curve to the right b. shifting the market supply curve to the left c. shifting the ATC curve upward d. shifting the ATC curve downward e. flattening the marginal revenue curve