An Increase in the Level of Technology, A, Causes

question 12

Multiple Choice

An increase in the level of technology, A, causes:

• A)an increase in the MPL
• B)a decrease in the MPL
• C)a movement along the MPL hiring more labour.
• D)a movement along the MPL hiring less labour.

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Definitions:

Interest Rates

Interest rates represent the cost of borrowing money, expressed as a percentage of the loan amount, paid by the borrower to the lender for the use of funds.