A rise in the average productivity of labor
a. always reflects technical progress.
b. reflects technical progress if other input usage hasn't changed.
c. reflects technical progress only if labor input hasn't changed.
d. reflects technical progress only if the quantity of output is increased.
b
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At the beginning of a recession, the expenditure multiplier
A) offsets the initial cut in autonomous expenditure and slows the recession. B) has no effect on the recession. C) offsets the initial cut in autonomous expenditure and reverses the recession. D) reinforces the initial cut in autonomous expenditure and reverses the recession. E) reinforces the initial cut in autonomous expenditure and adds force to the recession.
In the Airline Pricing Strategies case discussed in the text, a product with fewer rules and restrictions can command a higher price
Indicate whether the statement is true or false