If a technological change occurs such that the production function shifts from q = 10K0.5 L0.5 to q = 10.5K0.3 L0.5, then the technological change is

Owners of land are compensated according to the

a. absolute level of production from the land. b. number of laborers the land can support. c. purchase price of the land stock. d. value of the marginal product of land.

The traditional Phillips Curve suggests a trade-off between:

A. price stability and income equality. B. the level of unemployment and inflation. C. unemployment and income equality. D. economic growth and full employment.