Over the past year, productivity grew 2%, capital grew 1%, and labor grew 1%. If the elasticities of output with respect to capital and labor are 0.2 and 0.8, respectively, how much did output grow?

When economists refer to capital, they might mean

a. money b. human skills used in production c. stocks d. bonds e. bank loans

A supply curve is a:

A. graph that visually displays the supply schedule. B. graph depicting various price-quantity combinations of multiple goods. C. graph that shows the quantities of a particular good or service that producers will sell at one price. D. table that displays various price-quantity combinations of a good or service.