Which of the following would increase the supply of laptop computers?
a. Higher wage rates for the workers that produce laptop computers.
b. A technological improvement that lowers the cost of producing laptop computers.
c. An increase in the price of computer chips used to produce laptop computers.
d. All of these.
b
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Use the following table with data for a private closed economy (an economy with only a private sector and no international trade) to answer the next question. All figures are in billions of dollars.Expected Rate of ReturnInvestmentConsumptionGDP10%$0$400$4008100500600620060080043007001,00024008001,20005009001,400If the real rate of interest is 2%, then the equilibrium level of real GDP will be
A. $800 billion. B. $1,200 billion. C. $1,400 billion. D. $1,000 billion.
Consumer surplus is the
A) value of a good expressed in dollars. B) price of a good expressed in dollars. C) value of a good minus the price paid for it summed over the quantity bought. D) value of a good plus the price paid for it summed over the quantity bought.
The optimal number of units to produce is best expressed when:
a. marginal benefit exceeds marginal cost b. marginal cost exceeds marginal benefit c. marginal benefit and marginal cost are close to equal d. both a and c
The maximum potential money multiplier is equal to
A. the inverse of the required reserve ratio. B. the number of dollars on reserve. C. one minus the reserve ratio D. the reserve ratio.