Economic activities primarily directed toward creating or developing new ideas and new technology are called
A. technological diffusion.
B. the information revolution.
C. innovative activities.
D. technological competition.
Answer: C
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According to the No Marginal Improvement Principle, if X* is the best choice, then:
A. MB must be greater than MC at X*. B. MB must be equal to MC at X*. C. MB must be less than MC at X*. D. MB must be greater than or equal to MC at X*.
Contrary to most thinking, governments play ____ in causing pollution.
A. almost no role B. a large but decreasing role C. a major role D. a reconstructive role
In this economic growth and production possibilities curve, operating under the new production possibilities curve will always produce more than the old one, provided that the ______.
a. economy in the new curve is inefficient
b. economy for both curves is efficient
c. same technology is used in the economy of both curves
d. economy in the new curve uses fewer resources
An increase in the U.S. price level causes a
A. movement down the U.S. aggregate demand curve. B. shift of the U.S. aggregate demand curve to the right. C. movement up the U.S. aggregate demand curve. D. shift of the U.S. aggregate demand curve to the left.