An Increase in Total Factor Productivity Causes

question 55

Multiple Choice

An increase in total factor productivity causes

• A)real interest rates to rise.
• B)the production function to shift up.
• C)the output supply curve to shift left.
• D)real wages to rise.
• E)labour supply to fall.

---

Definitions:

Harmony

a state of agreement, accord, or synchronization among components which often creates a pleasing or orderly whole.

Groupthink

A psychological phenomenon occurring within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Unanimity

Complete agreement or concord among all members or participants, often used in the context of group decisions or jury verdicts.

Argument

A set of reasons or evidence in support of a conclusion or position.