An advance in technology which increases labor productivity will shift the:

If a firm shuts down in the short run, it will:

a. incur losses equal to its fixed costs. b. produce at the output level where MC = MR. c. reduce its losses to zero. d. do this because P > AVC. e. have total revenue greater than total fixed costs.

If an economy's capital stock is greater at the end of the year than at the beginning of the year, over this period,

a. net investment has been positive. b. depreciation has exceeded net investment. c. depreciation has exceeded gross investment. d. net investment has exceeded gross investment.