How did the information revolution that kicked in during the late 1990s increase productivity?
A. Businesses learned how to use foreign suppliers to cut costs.
B. Businesses were able to sell in larger markets through their websites.
C. Businesses learned how to use computers to produce more output with fewer workers.
D. Businesses began using the Internet to provide online training for workers.
Answer: C
You might also like to view...
________ is the difference between the willingness to pay and the price paid for a good
A) Producer surplus B) Consumer surplus C) Seller's profit D) Revenue
The deadweight loss from a monopoly loss measures the inefficiency created by monopoly
Indicate whether the statement is true or false
Why does the short-run aggregate supply curve shift to the right in the long run, following a decrease in aggregate demand?
A) Workers and firms adjust their expectations of wages and prices upward and they push for higher wages and prices. B) Workers and firms adjust their expectations of wages and prices upward and they accept lower wages and prices. C) Workers and firms adjust their expectations of wages and prices downward and they accept lower wages and prices. D) Workers and firms adjust their expectations of wages and prices downward and they push for higher wages and prices.
Refer to the figure above. If A forms a customs union with C, the value of trade diversion will be
A) $0. B) $10,000. C) $20,000. D) $40,000.