An Increase In_{--------------------}increases Potential GDP And_{--------------------} Aggregate Supply

question 87

Multiple Choice

An increase in_{--------------------}increases potential GDP and_{--------------------} aggregate supply

• A)technology; increases
• B)the money wage rate; decreases
• C)the money wage rate; increases
• D)the money price of oil; decreases
• E)technology; decreases

Perform and interpret basic calculations for descriptive statistics.

Understand the representation of data through standard deviation and mean.

Analyze and solve problems involving inequalities and their applications.

Understand the concept of political risk and how it affects firms' investments in foreign countries.

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Definitions:

Direct Labor Wage Rate

The rate of pay for workers who are directly involved in the production of goods or the provision of services.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold to customers.

Selling and Admin. Expense

Costs that are not directly tied to the production of goods or services but are necessary for selling products and managing the business.

Variable Expense

Costs that vary directly with the level of production or sales volume, such as raw materials and commission fees.