The aggregate production function of an economy shifts upward when ________ produce a higher output.
A) the same amount of capital and labor
B) the same amount of capital and a higher amount of labor
C) a higher amount of capital and labor
D) the same amount of labor and a higher amount of capital
Question 2
The characteristic from which all economic problems arise is
A) how to make a profit.
B) political decisions.
C) hunger.
D) scarcity.
E) providing a minimal standard of living for every person.
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Use the graph of the function f(x) to answer each question.