The passage of the ________ in 1930 sparked a trade war that caused net exports to decrease and real GDP to decrease

An advance in technology that increases productivity and an increase in the working-age population results in a

A) rightward shift of the labor supply curve. B) rightward shift of the labor demand curve. C) rightward shift of the labor demand curve and of the labor supply curve. D) no change to the production function.

If economies of scale are relatively unimportant in an industry, the typical firm's long-run average total cost curve will reach a minimum at a level of output that is a ________ fraction of total industry sales. The industry will be ________

A) large; competitive B) small; an oligopoly C) large; an oligopoly D) small; competitive