Author Question: Which of the following statements is consistent with an increase in supply? A) The price of labor ... (Read 25 times)

maegan_martin · **on:** Jun 29, 2018

Which of the following statements is consistent with an increase in supply?

A) The price of labor input has increased.
B) There has been an advance in technology.
C) Consumers' incomes have increased.
D) The market price has decreased.

Question 2

If a country's production possibilities curve gets more bowed out over time, it is an indication that

A) technological change has taken place.
B) society is learning to use its resources more efficiently.
C) the quantity of labor and capital have increased.
D) resources have become more highly specialized.