Which of the following best describes the impact of technological change on labor?
a. Technology causes unemployment in the short run and lower incomes in the long run
b. Technology causes unemployment in the short run and higher incomes in the long run.
c. Technology causes unemployment in the long run and higher incomes in the short run.
d. Technology causes unemployment in the long run and lower incomes in the short run.
e. Technology causes unemployment and lower incomes in both the long run and the short run.
b
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If a hot dog manufacturer acquires a bakery that primarily bakes hot dog buns, you would likely see
a. Higher prices for the hot dogs but lower prices for the buns b. Higher prices for the buns but lower prices for the hot dogs c. Higher prices for both the hot dogs and the buns d. Lower prices for both the hot dogs and the buns
A budget surplus
a. occurs when the government has debt equal to zero. b. causes government debt to increase. c. exists when government spending is greater than tax revenues. d. reduces the government's debt.
Empirically measuring the marginal social benefit of pollution is ________ and empirically measuring the marginal social cost of pollution is ________.
A. difficult; relatively easy B. difficult; difficult C. relatively easy; difficult D. relatively easy; relatively easy
Limits on the quantity or total value of specific products imported to a nation are:
A. Import quotas B. Protective tariffs C. Nontariff barriers D. Export subsidies