A disadvantage of chain-weighting is that
A. it causes output growth to slow.
B. past growth rates of real GDP change whenever the base year changes.
C. the components of real GDP don't sum to real GDP.
D. past inflation rates change whenever the base year changes.
Answer: C
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Car manufacturers who use robots to do certain jobs on the assembly line are trying to increase supply by
a. lowering input costs b. taking advantage of government regulation c. applying new technology d. increasing the number of producers
An increase in labor hours will lead to
A) a shift of the aggregate production function but no movement along it. B) a movement along the aggregate production function but no shift in it. C) both a movement along and a shift in the aggregate production function. D) neither a movement along nor a shift in the aggregate production function.