An Increase in Total Factor Productivity Shifts the Production Function

question 31

Multiple Choice

An increase in total factor productivity shifts the production function

• A) upward, but does not change its slope.
• B) upward, and also changes its slope.
• C) downward, but does not change its slope.
• D) downward, and also changes its slope.
• E) upward, but reduces the marginal product of labour.

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Definitions:

Episodic Memory

A type of long-term memory that involves recollection of specific events, situations, and experiences.

Retrieval Cues

Stimuli that assist in the recall of information stored in memory; these cues can trigger memories to resurface.

Recognition

The cognitive process of identifying a previously encountered stimulus, distinguishing it from new stimuli.

Recall

The ability to access and retrieve information from memory without the assistance of cues, distinguishing it from recognition.