In a graph with output in the Y axis and efficiency units of labor in the X axis, which of the following causes a rightward movement along the aggregate production function?
A) A decrease in the capital stock B) An increase in the total efficiency units of labor
C) An improvement in technology D) A decrease in the productivity of workers
B
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High concentration measures will understate the extent of competition in a market if
A) the true geographical scope of the market is global rather than national. B) entry into the industry is easy. C) the geographical scope of the market is regional rather than national. D) Both answers A and B are correct.
Membership in the Federal Reserve System
A) is held by state-owned banks only. B) is held collectively by all banks in the banking system. C) is held by only a minority of banks in the banking system. D) is held by banks that also have branches outside the United States.