An Increase in Total Factor Productivity in a Closed Economy

question 7

Multiple Choice

An increase in total factor productivity in a closed economy

• A) increases labour demand, increases the real wage, increases output and decreases the real interest rate.
• B) increases labour demand, increases the real wage, increases output and increases the real interest rate.
• C) increases labour demand, decreases the real wage, decreases output and increases the real interest rate.
• D) increases labour demand, decreases the real wage, decreases output and decreases the real interest rate.
• E) decreases labour demand, increases the real wage, increases output and decreases the real interest rate.

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Definitions:

Cover Letter

A document sent with a resume to provide additional information about one’s skills and experience.

Interview

A structured conversation where one party asks questions, and the other provides answers, commonly used for job selection processes.

Employer

An individual or organization that hires and pays people to work for them.

Interview Closing Process

The final phase of an interview in which the interviewer wraps up the conversation, provides information about the next steps, and thanks the candidate.