Which of the following is an example of positive technological change?
A) A firm offers workers a higher wage to work on weekends and at night. As a result, the firm is able to increase its weekly production of surf boards.
B) A firm buys an additional machine that it uses to make surf boards. As a result, the firm is able to increase its weekly production of surf boards.
C) A firm conducts a new advertising campaign. As a result, the demand for the firm's surf boards increases.
D) A firm's workers participate in a training program designed to increase the number of surf boards they can produce per day.
Answer: D
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If there is a surplus of euros at the current exchange rate, the exchange value of euros will tend to fall
a. True b. False Indicate whether the statement is true or false
Which of the following will shift the Keynesian short-run aggregate supply curve downward and to the right?
A. a rise in the price level B. an increase in input costs C. a decrease in input costs D. a fall in the price level
A higher wage could result in a lower labor cost per unit of output than a lower wage if the higher wage:
A. brings forth greater work effort. B. increases supervision costs. C. increases job turnover. D. increases worker absenteeism.
Refer to the table shown to answer the question. Between $2 and $2.20, demand is:PriceQuantity Demanded$1.60130$1.80120$2.00110$2.20100$2.4090$2.6080
A. elastic. B. inelastic. C. unit elastic. D. perfectly elastic.