Keynes argued that when interest rates were low relative to some normal value, people would expect bond prices to ________ so the quantity of money demanded would ________

Labor-saving technological advances increase the marginal productivity of labor

a. True b. False Indicate whether the statement is true or false

Suppose you operate a factory that produces gadgets. Your current output is 1,000 gadgets. If your fixed cost is $10,000 and your total cost is $50,000, the:

A. average total cost of production is $500. B. average variable cost of production is $50. C. average variable cost of production is $40. D. marginal cost of production is $40,000.