Using the Cobb-Douglas production function, while holding other inputs constant, if the amount of a specific factor is increasing ________
A) the increased amount of output from an extra unit of input declines
B) the increased amount of output from an extra unit of input increases
C) that factor's share of output is declining
D) that factor's share of output is increasing
E) none of the above
A
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________ means the supply curve has shifted to the right, while ________ refers to a movement along a given supply curve in response to an increase in price
A) An increase in supply; an increase in quantity supplied B) A decrease in supply; a decrease in quantity supplied C) A decrease in supply; an increase in supply D) An increase in supply; a decrease in supply
The President of which of the following district banks of the Fed is perpetually present on the Federal Open Market Committee?
a. The New York Fed b. The Seattle Fed c. The Boston Fed d. The Chicago Fed e. The Atlanta Fed