An increase in the number of hours worked would
a. shift the production function upward.
b. shift the production function downward.
c. shift the production function outward.
d. not shift the production function.
d
Economics
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The sale of Treasury securities by the Federal Reserve will, in general
A) not change the money supply. B) not change the quantity of reserves held by banks. C) increase the quantity of reserves held by banks. D) decrease the quantity of reserves held by banks.
Economics
The recessionary GDP gap is
A. Reduced by shifting aggregate demand to the left. B. Equal to the spending multiplier. C. The amount by which equilibrium GDP falls short of full-employment GDP. D. Small unless the unemployment rate is very low.
Economics