For a given technology, a higher capital stock will decrease labor productivity

A graph that shows the percentage of the families on one axis and the percentage of income on the other is called the:

a. Budget-distribution curve. b. Income-consumption curve. c. Lorenz curve. d. Marx curve.

Answer the following questions true (T) or false (F)

1. In the circular flow model, households supply resources such as labor services in the product market. 2. A welding machine is an example of a factor of production if it is being used to produce automobiles. 3. One of the monetary policy goals of the Federal Reserve is price stability.