The increase in technology used to produce a good would
A. move its supply curve to the left.
B. cause a movement along the supply curve to a (higher price, higher quantity) point.
C. move its supply curve to the right.
D. cause a movement along the supply curve to a (lower price, lower quantity) point.
Answer: C
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Which of the following statements is incorrect? a. Demand and supply curves for labor are constantly shifting
b. The typical unemployment compensation in the United States is one's full salary for up to 26 weeks. c. Unemployment compensation decreases the opportunity cost of being unemployed to a worker. d. Unemployment compensation encourages longer job searches, which may lead to a better match between jobs and employees.
An extreme case where either the quantity demanded (Qd) or supplied (Qs) changes by an infinite amount in response to any change in price is called:
a. perfect elasticity. b. imperfect elasticity. c. strong elasticity. d. weak elasticity.
Labor productivity is calculated by dividing GDP by
a. population. b. the price level. c. capital stock d. labor force.
The primary assets of a finance company are
A) municipal bonds. B) corporate stocks and bonds. C) consumer and business loans. D) mortgages.