Is it possible for technological change to be negative? If so, give an example
What will be an ideal response?
Technological change could be negative, for instance, when a natural disaster hits, or when a firm hires less-experienced workers. In these cases, the firm would produce a lower level of output with the same inputs.
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Critics of real business cycle theory doubt the plausibility of ________
A) intertemporal substitution B) negative productivity shocks C) adaptive expectations D) a trade-off between work and leisure
By restricting the amount of precious metals going into the colonies, the British significantly hindered economic growth in colonial America
Indicate whether the statement is true or false
A dollar figure from 1908 is converted into 2008 dollars by dividing the 2008 price level by the 1908 price level, then multiplying by the 1908 dollar figure
a. True b. False Indicate whether the statement is true or false
Describe the particular policy mix that accounts for the favorable economic conditions of the late 1990s. Be sure to specify the fiscal and monetary policies pursued during this period.
What will be an ideal response?