A firm has successfully adopted a positive technological change when
A) it can produce more output using the same inputs.
B) it sees an increase in worker productivity.
C) it produces less pollution in its production process.
D) it can pay its workers less yet increase its output.
A
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Purchases of Huggies diapers should
A) increase in recessions and decrease in expansions. B) decrease in recessions and increase in expansions. C) remain fairly constant over the business cycle. D) increase in recessions and remain constant in expansions.
In ________ markets, the elasticity of supply tends to be positive.
A. labor B. input C. all D. output
Refer to the information provided in Figure 27.4 below to answer the question(s) that follow.
Figure 27.4Refer to Figure 27.4. If the economy is currently at the intersection of AS and AD, stagflation would be caused by
A. an increase in AD. B. a decrease in AD. C. a decrease in AS. D. an increase in AS.