Other things the same, continued increases in technology lead to
a. continued increases in the price level and real GDP.
b. continued decreases in the price level and real GDP.
c. continued increases in real GDP and continued increases in the price level.
d. continued increases in real GDP and continued decreases in the price level.
d
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Which of the following advertising statements could be considered greenwashing?
A) "Only high quality products are used to make our guacamole." B) "Try our pizza; it is the best pizza you will ever taste." C) "Our employees love to make pizza for you!" D) "Our product is 100 percent biodegradable."
As John's income has increased, he has purchased fewer hamburgers. Hamburgers are
A) a normal good for John. B) an inferior good for John. C) not following the law of demand. D) leading to a rightward shift in John's demand curve for hamburgers.
Profit is maximized when which of the following conditions occurs?
a. Total revenue equals total cost. b. Average revenue equals average cost. c. Marginal revenue equals marginal cost. d. Both b. and c. above are correct.
Crowding out occurs when the government
a. reduces the level of the national debt, forcing up interest rates b. balances the budget, increasing the value of government bonds and thereby causing consumption to fall c. borrows money to finance the national debt, forcing up interest rates, causing private investment to fall d. borrows money to finance the national debt, causing interest rates to fall causing private investment to fall e. borrows money to finance the national debt, forcing up interest rates, causing consumption to fall