A nation that protects its workers from unemployment by limiting the use (by employers) of technological improvements will
a. grow more rapidly because the rate of unemployment will be lower.
b. grow more rapidly because investors prefer a stable business environment rather than the uncertainties that accompany technological change.
c. grow less rapidly because technological change is an important factor contributing to the growth of output.
d. grow just as much as nations that adopt more rapidly technological improvements.
C
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Refer to Figure 7-1. Marginal private benefit is represented by which curve?
A) D2 B) Supply C) D1 D) All of the above represent marginal private benefit.
Refer to Figure 24-2. Ceteris paribus, a decrease in the capital stock would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
A majority of international transactions involve the buying and selling of _____
a. bank deposits denominated in foreign currency b. currency notes c. traveler's checks d. stocks denominated in domestic currency e. bills of exchange
Apply the AD/AS model to the U.S. economy. The international trade effect is reflected on its _______ and when the price level _________________
a. AS; falls, foreigners buy fewer goods b. AD; falls, foreigners buy more U.S. goods c. AS; falls, the aggregate demand curve shifts to the left d. AS; rises, the aggregate demand curve shifts to the right e. AS; rises, the supply of U.S.-made goods increases