As the price level falls, the quantity of real wealth ________ and the aggregate quantity of real GDP demanded ________

The price elasticity of demand for a variable input will be more elastic in all the following cases EXCEPT

A) the greater the price elasticity of demand for the final product. B) the easier it is for a particular variable input to be substituted for by other inputs. C) the larger the proportion of total costs accounted for by a particular variable input. D) the shorter the time period being considered.

Dell computers has increased production efficiency by

A) producing output with fewer inputs. B) expanding the amount of inputs used. C) outsourcing production. D) relying on decreasing returns to scale.