Suppose that the technology used to produce computers advances. How does this change affect the supply of computers and the supply curve of computers?
What will be an ideal response?
An advance in technology increases the supply of computers. Hence increases in technology shift the supply curve of computers rightward.
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Leontief reconciled his results by arguing that
A) American labor is more efficient than foreign. B) American capital is more efficient than foreign. C) Foreign capital is more efficient than American. D) Foreign labor is more efficient than American.
In order to achieve a high economic freedom rating, a country must
a. provide secure protection of privately owned property and evenhanded enforcement of contracts. b. refrain from creating barriers that limit domestic and international trade. c. rely more fully on markets rather than governments to allocate goods and resources. d. all of the above.
A city finances a performing arts center by adding a $2.75 tax to each ticket sold.This is an example of taxation via the benefits principle
a. True b. False Indicate whether the statement is true or false
The demand for reserves curve in the federal funds market is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping.