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reading quiz answers - Q A mathematical expression relating...

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Sheet1 Page 1 Q:A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the A.real interest rate. B.productivity relation. C.production function. D.marginal product. ANSWER: C A Q:In the production function Y ? AF(K, N), A is _____, K is _____, and N is _____. A.total factor productivity B.total factor productivity C.the productivity of labor D.the productivity of labor ANSWER: A A Q:The two main characteristics of the production function are A.it slopes downward from left to right, and the slope becomes flatter as the input increases. B.it slopes upward from left to right, and the slope becomes steeper as the input increases. C.it slopes upward from left to right, and the slope becomes flatter as the input increases. D.it slopes downward from left to right, and the slope becomes steeper as the input increases. ANSWER: C A Q:An adverse supply shock would A.shift the production function up and decrease marginal products at every level of employment. B.shift the production function down and decrease marginal products at every level of employment.
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This note was uploaded on 09/15/2009 for the course ECON 304 taught by Professor Stone,mistyriano,alejandro during the Fall '07 term at Penn State.

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reading quiz answers - Q A mathematical expression relating...

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