An increase in the capital stock will
A) flatten the production function. B) steepen the production function.
C) shift the production function upward. D) shift the production function downward.
C
Economics
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In the above table, the labor force participation rate is
A) 55 percent. B) 44 percent. C) 62 percent. D) 69 percent.
Economics
If the demand for a product is inelastic, which of these statements must be true?
(A) Customers are sensitive to the price of the product. (B) A price increase does not have a significant impact on buying habits. (C) There are very few satisfactory substitutes for the product. (D) People will not buy any of the product when the price goes up.
Economics