A technological change in the production of cars will
A. affect input and output markets in the automobile industry and other related industries.
B. affect only the markets for inputs used to produce cars.
C. affect only the way cars are produced.
D. have no effect on consumers.
Answer: A
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Government purchases in national income accounts would include payments for ________.
A. unemployment benefits B. salaries for current U.S. military officers C. public assistance for welfare recipients D. Social Security checks to retirees
If any country decides to exit from the Eurozone, it will gain ________
A) free capital mobility B) a fixed exchange rate C) reduced transactions costs D) monetary policy independence
Which of the following is true of a recession? a. It is typically accompanied by inflation and investment growth. b. It lasts for more than two years on an average
c. It is typically longer than periods of expansion. d. It begins after an expansion has peaked. e. It continues as long as actual output exceeds the potential output.