25 May Question 85. Refer to the above graph. Which factor will shift AS1 to AS3?
Question
85. Refer to the above graph. Which factor will shift AS1 to AS3?
A) an increase in productivity C) a decrease in business taxes
B) an increase in input prices D) a decrease in household indebtedness
Type: G Topic: 3 Level: Easy E: 195-196 MA: 195-196
86. Refer to the above graph. Which factor will shift AS1 to AS2?
A) a rise in national income abroad C) a reduction in business taxes
B) an increase in government spending D) a decline in consumer confidence
Type: A Topic: 3 Level: Difficult E: 195 MA: 195
87. Suppose that an economy produces 500 units of output. It takes 10 units of labor at $15 a unit and 4 units of capital at $50 a unit to produce this output. The per unit cost of production is:
A) $1.42. B) $1.24. C) $0.70. D) $0.40.
Type: A Topic: 3 Level: Difficult E: 195 MA: 195
88. In an economy it costs $1,500 to produce 2,000 units of output. If the costs increase to $2,500, then the per unit cost of production will have increased from:
A) $0.75 to $1.25. B) $0.75 to $1.00. C) $1.33 to $1.75. D) $0.80 to $1.33.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
89. Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50 and the price of each input is $9. The level of productivity in this economy is:
A) 5. B) 6. C) 9. D) 50.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
90. Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50 and the price of each input is $9. The per-unit cost of production is:
A) $0.67. B) $1.50. C) $33.33. D) $55.00.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
91. Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50 and the price of each input is $9. If productivity increased such that 400 units are now produced with the quantity of inputs still equal to 50, then per-unit production costs would:
A) increase and aggregate demand would decrease. C) decrease and aggregate supply would decrease.
B) decrease and aggregate demand would increase. D) decrease and aggregate supply would increase.
Use the following to answer questions 92-95:
Suppose that real domestic output in an economy is 2400 units, the quantity of inputs is 60, and the price of each input is $30.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
92. Refer to the above information. The level of productivity in this economy is:
A) 20. B) 30. C) 40. D) 50.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
93. Refer to the above information. The per-unit cost of production is:
A) $0.25. B) $0.50. C) $0.75. D) $2.00.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
94. Refer to the above information. If productivity increased such that 3000 units are now produced with the quantity of inputs still equal to 60, then per-unit production costs would:
A) decrease and aggregate supply would decrease.
B) decrease and aggregate supply would increase.
C) increase and aggregate supply would decrease.
D) remain unchanged and aggregate supply would remain unchanged.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
95. Refer to the above information. All else equal, if the price of each input decreased from $30 to $20, 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 and aggregate supply would increase.
Type: A Topic: 3 Level: Moderate E: 195 MA: 195
96. If Congress passed new laws significantly increasing the regulation of business, this action woul
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