Which of the following is not true about technological progress?
A) allow for the production of a larger quantity of goods using the same number of workers
B) lead to the production of new goods
C) lead to the disappearance of old goods
D) cause a reduction in employment in the short run
E) none of the above
E
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In Barylia, Greenaqua Corp . is the sole controller of a resource required for the production of bottled drinking water. Therefore, Greenaqua Corp . enjoys:
A) legal market power. B) natural market power. C) regulated market power. D) restricted market power.
Suppose the nominal interest rate is 10 percent, the tax rate on interest income is 28 percent, and the inflation rate is 6 percent. Then the after-tax real interest rate is -3.2 percent
a. True b. False Indicate whether the statement is true or false
Suppose the current level of output is 5000 and the elasticity of output with respect to capital is 0.4. A 10% increase in capital would increase the current level of output to
A. 5050. B. 5200. C. 5020. D. 5500.
When a temporary shock in the economy involves a restriction in supply ________
A) we refer to it as a negative supply shock B) a rise in commodity prices typically follows C) a reduction in output typically ensues D) all of the above E) none of the above