Examlex

Solved

What Is the Effect of an Increase in the Productivity

question 136

Multiple Choice

What is the effect of an increase in the productivity of capital?


Definitions:

Quantity Supplied

The level of goods or services that producers are eager and capable of selling at a determined price.

Price

The amount of money expected, required, or given in exchange for something else, such as a good or service.

Price Ceilings

A legal maximum price set below the equilibrium price for a good or service, aimed at preventing prices from becoming too high.

Equilibrium Price

The cost at which the amount of a product or service that consumers want to buy is equal to the amount that sellers want to sell, resulting in a balanced market.

Related Questions