Technology is defined as
A) new innovations and creations.
B) the process of developing and revising models.
C) the process of recycling products.
D) the processes used to produce goods and services.
D
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Figure 4-13
Refer to . The supply curve S and the demand curve D1 indicate initial conditions in the market for flu shots. A new government program is implemented that grants buyers a $25 subsidy when they buy a flu shot, shifting the demand curve from D1 to D2. Which of the following is true for this subsidy given the information provided in the figure?
a.
The original price of a flu shot was $75, and after the subsidy, it rises to $90.
b.
$65 represents the net price a buyer must pay for a flu shot after taking into account the subsidy payment.
c.
Buyers of flu shots will receive an actual benefit of $10 from the subsidy, while sellers of flu shots will receive an actual benefit of $15 from the subsidy.
d.
All of the above are true.
Deflation is a situation in which the:
A. quantity of goods and services produced is decreasing over time. B. prices of most goods and services are rising over time. C. quantity of goods and services produced is increasing over time. D. prices of most goods and services are falling over time.
The country with the largest trade deficit as a percentage of GDP in 2009 was
A. Japan. B. United States. C. France. D. Canada.
Refer to the given data. Which of the following would be feasible terms of trade between Landia and Scandia?
Answer the question on the basis of the following production possibilities data for Landia and Scandia:
A. 1 fish for 4 chips.
B. 1 fish for 6 chips.
C. 1 fish for 7 chips.
D. 2 fish for 4 chips.