In the production function, Y=AF(K,N) variable A is
A. total factor productivity
B. marginal output of labor
C. the x-factor
D. a measure of unemployment
Answer: A. total factor productivity
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The labels for the axes of the aggregate demand graph should be ________.
A. quantity of a product on the vertical axis and the price of a product on the horizontal axis B. real domestic output on the vertical axis and the price level on the horizontal axis C. real domestic output on the horizontal axis and the price level on the vertical axis D. price of a product on the vertical axis and quantity of a product on the horizontal axis
The accompanying figure shows a single consumer's demand for ice cream at the student union.
An increase in the number of students on this campus would cause:
A. the demand curve shown above to shift to the right. B. the market demand curve for ice cream from the student union to shift to the right. C. the demand curve shown above to shift to the left. D. no change in the market demand curve for ice cream from the student union.