New inventions may displace some workers, but generally lead to the growth of jobs in new industries
a. True
b. False
Indicate whether the statement is true or false
True
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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
Refer to Figure 11-10. Suppose for the past 8 years the firm has been producing Qd units per period using plant size ATC4. Now, following a permanent change in demand, it plans to cut production to Qc units
What will happen to its average cost of production? A) In the short run, its average cost rises from $47 to $55, and in the long run, average cost falls to $41. B) In the short run, its average cost rises from $47 to $55, and in the long run, average cost falls to $37. C) In the short run, its average cost falls from $47 to $37, and in the long run, average cost rises to $41. D) In the short run, its average cost falls from $47 to $41, and in the long run, average cost falls even further to $37.
Instrumental Variables regression uses instruments to
A) establish the Mozart Effect. B) increase the regression R2. C) eliminate serial correlation. D) isolate movements in X that are uncorrelated with u.
The Central Bank of Wiknam decreases the money supply at the same time the Parliament of Wiknam repeals a new investment tax credit. Which of these policies shifts aggregate-demand curve to the left?
a) the investment tax credit repeal but not the money supply decrease b) the money supply decrease but not the investment tax credit repeal c) both the money supply decrease and the investment tax credit repeal d) neither the investment tax credit repeal nor the money supply decrease