Refer to Figure 8.3. Holding other variables constant, if the economy is originally in equilibrium at the intersection of D1 and S1 and firms experience an increase in technology of production, the economy would move to the new equilibrium point
represented by A) w1 and L2.
B) w3 and L2.
C) w2 and L2.
D) w2 and L3.
B
Economics
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The federal government pays for what percentage of research and development?
a. 0.91% b. 60.2% c. 32% d. 3.6%
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Owners of a corporation have limited liability for the debts of the business
a. True b. False Indicate whether the statement is true or false
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To understand how the price of a good is determined in a free market, one must account for the desires of:
A. sellers. B. buyers. C. governmental agencies. D. buyers and sellers.
Economics
Based on your understanding of the Phillips curve, explain what happens to actual inflation (relative to expected inflation) when the actual unemployment rate is either above or below the natural rate of unemployment
What will be an ideal response?
Economics