A shoe factory has an elasticity of supply of .5 as the price of shoes rises from $50 to $75. If the factory produced 100,000 shoes at a market price of $50, how many will be produced at the new price?

Refer to the Article Summary. If, after the outflow of educated workers in Mexico, it now takes more capital per hour worked to get the same amount of GDP per hour worked, this indicates ________ the per-worker production function in Mexico

A) a movement up B) a movement down C) a downward shift of D) an upward shift of

Contractionary monetary policy refers to the Fed's decreasing the money supply and decreasing interest rates to decrease real GDP

Indicate whether the statement is true or false