Which of the following will cause an upward movement along the aggregate supply curve?
a. An increase in the price level of all goods and services
b. A decrease in the price level of all goods and services
c. A technological improvement in the country
d. An increase in the physical capital of a country
a
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Suppose that productivity-enhancing technological progress affected more the production of chairs than the production of tables. This can be depicted using a production possibilities frontier in which
A) only the chair axis intercept increases. B) only the table axis intercept decreases. C) both intercepts increase; however, the chair intercept increases by more. D) both intercepts increase; however, the chair intercept increases by less.