Refer to the information provided in Figure 31.1 below to answer the question(s) that follow.
Figure 31.1Refer to Figure 31.1. Which of the following cannot cause a movement from Point A to Point C?
A. technological progress
B. an expansionary monetary policy
C. an increase in the productivity of workers
D. an increase in capital stock
Answer: B
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An increase in interest rates:
A. decreases aggregate demand, slowing economic activity. B. decreases aggregate demand, increasing economic activity. C. increases aggregate demand, slowing economic activity. D. increases aggregate demand, increasing economic activity
Identify the Marginal External Benefit (MEB) function, and briefly explain what this function is measuring.
Suppose you are a public official responsible for setting a retail disposal charge on antifreeze. Estimated marginal benefit and cost functions for antifreeze are as follows: MPB = 10.0 – 0.5Q MPC = MSC = 1.0 + 0.4Q MSB = 10.0 –1.1Q, whereMPB, MSB, and MPC are measured in dollars per gallon, and Q is in millions of gallons.
Some economists argue that the increases in aggregate demand for output spurred by wartime spending, complemented by the strong spending in the private sector, impacted the U.S. economy by
(a) increasing production and employment. (b) increasing employment and income. (c) increasing income, thus fueling additional spending. (d) contributing to all of the above.
People in a certain group have a 0.3% chance of dying this year
If a person in this group buys a life insurance policy for $3,300 that pays $1,000,000 to her family if she dies this year and $0 otherwise, what is the expected value of a policy to the insurance company? A) $0 B) $300 C) $3,000 D) $3,300