An economy with better technology is likely to:
A) achieve higher productivity. B) have lower levels of human capital.
C) have less capital stock. D) use more labor than capital.
A
Economics
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The slope of a producer's production possibilities frontier represents the producer's
A) sunk costs of production. B) average costs of production. C) marginal costs of production. D) total costs of production.
Economics
In a budget line, a simultaneous and proportional increase in the price of the good on the y-axis and the good on the x-axis is graphically represented by:
A. a rightward parallel shift of the budget line. B. a steeper slope of the budget line. C. a leftward parallel shift of the budget line. D. a flatter slope of the budget line.
Economics