An economist says, "Technological advances have the power to lower the prices of many of the goods we buy." Here is how this works:
A) Technological advances lead to lower demand, which leads to lower prices.
B) Technological advances lead to greater supply, which leads to lower prices.
C) Technological advances lead to greater quantity supplied, which leads to lower prices.
D) Technological advances lead to lower taxes, which lead to greater supply, which leads to lower prices.
E) Technological advances lead to higher taxes, which lead to fewer subsidies, which lead to greater supply, which leads to lower prices.
B
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Honda will sell its vehicles to anyone who wants to and can buy one. Honda is using a ________ allocation method
A) first-come, first-served B) market price C) contest D) majority rule E) command
Is it possible for a currency to appreciate relative to another currency, and depreciate relative to a third? a. No, this is not theoretically possible; a currency rises or falls against all others. b. No, although this could occur under a strict gold standard
c. Yes, this is possible in a world of floating exchange rates. d. Yes, in theory, but it does not happen in reality.
Which of the following is true of minimum-wage laws?
a. They affect skilled workers' wages. b. They create above-equilibrium wages for some unskilled workers. c. They create a shortage of unskilled labor. d. They negatively affect the employment of skilled workers.
Borrowers:
A. lose with inflation, as the value of their debt decreases. B. gain from inflation, as the value of their debt decreases. C. gain from inflation, as the value of their debt increases. D. lose with inflation, as the value of their debt increases.