An increase in total factor productivity shifts the production function
A) upward and increases the marginal product of labor.
B) upward and decreases the marginal product of labor.
C) downward and increases the marginal product of labor.
D) downward and decreases the marginal product of labor.
A
Economics
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The price elasticity of demand is defined as the magnitude of the
A) change in quantity demanded divided by the change in price. B) change in price divided by the change in quantity demanded. C) percentage change in quantity demanded divided by the percentage change in price. D) percentage change in price divided by the percentage change in quantity demanded.
Economics
The payroll tax is a
a. progressive tax. b. neutral tax. c. regressive tax. d. proportional tax.
Economics