Technical innovation spurs economic growth because it
A) increases labor productivity.
B) increases the stock of capital goods.
C) provides more powerful means of production.
D) does all of the above.
D
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What are the assumptions of a pure monopoly?
What will be an ideal response?
In the short run, if a firm's total product is increasing: a. its marginal product must be increasing
b. its marginal product must be positive. c. its marginal product could be increasing or decreasing. d. both b. and c. are true.
You hold bonds issued by the city of Sacramento, California. The interest you earn each year on these bonds
a. is not subject to federal income tax and so these bonds pay a higher interest rate than otherwise comparable bonds issued by the U.S. government. b. is not subject to federal income tax and so these bonds pay a lower interest rate than otherwise comparable bonds issued by the U.S. government. c. is subject to federal income tax and so these bonds pay a higher interest rate than otherwise comparable bonds issued by the U.S. government. d. is subject to federal income tax and so these bonds pay a lower interest rate than otherwise comparable bonds issued by the U.S. government.
An example of cyclical unemployment is a(n):
A. textile worker permanently laid off due to job lost to imports. B. autoworker who is temporarily laid off due to a decline in demand for cars. C. engineer permanently laid off due to advances in technology. D. computer programmer who leaves one job and accepts a new job.