If the rate of technological change increases, the result will be that
a. the growth rate of productivity will decrease and firms' profits will increase
b. the growth rate of productivity will increase and firms' profits will decrease
c. most individuals will likely lose their jobs due to lack of skills
d. the growth rate of productivity will increase and living standards will increase
e. firms' profits will increase and living standards will decrease
D
You might also like to view...
One concept that behavioral economists use to account for procrastination is:
A. the time inconsistency of our decision-making. B. the fungibility of money. C. thinking inconsistently about prices. D. framing bias.
For an inferior good, the income effect
a. is zero b. at least partially offsets the substitution effect c. operates to increase the quantity demanded d. helps explain why the demand curve slopes upward e. does not exist
Based on this figure, if the official value of krone is fixed at $0.09 per krone, then the Norwegian krone is ________ and the international reserves of Norway will ________ krone per period.
A. overvalued; decrease by 5,500 B. undervalued; increase by 5,500 C. overvalued; decrease by 2,000 D. undervalued; increase by 2,000
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30