Suppose That an Economy Produces 2,400 Units of Output, Employing

question 85

Multiple Choice

Suppose that an economy produces 2,400 units of output, employing the 60 units of input, and the price of the input is $30 per unit.All else equal, if the price of each unit of input decreased from $30 to $20, then productivity would

• A)increase from $40 to $90 and aggregate supply would decrease.
• B)increase from $50 to $60 and aggregate supply would decrease.
• C)increase from $60 to $70 and aggregate supply would increase.
• D)remain unchanged but aggregate supply would increase.

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Definitions:

Belief Change

The process through which an individual modifies their perceptions, attitudes, or understanding in response to new information or experiences.

Rokeach

refers to Milton Rokeach, a psychologist known for his work on belief systems, values, and attitude change.

Right-Wing Authoritarianism

A personality and ideological framework characterized by submission to authority, aggression toward outgroups, and adherence to conventional norms.

Conventionalism

The adherence to conventional norms and practices, often prioritizing traditional methods over innovation.