Along a supply curve,
a. supply changes as price changes.
b. quantity supplied changes as price changes.
c. supply changes as technology changes.
d. quantity supplied changes as technology changes.
b
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The prices of the products in the World War II POW camps, measured in terms of cigarettes, reflected the products'
A) practicality. B) costs of production. C) scarcity. D) retail prices.
In the absence of the Ricardo-Barro effect, an increase in the government deficit results in a ________ real interest rate and a ________ equilibrium quantity of investment
A) higher; higher B) higher; lower C) lower; higher D) lower; lower
In its simplest form, purchasing power parity would mean that a good in one country
A) would have the same exchange-rate adjusted price in another country. B) will be available for sale in another country. C) will reflect the exchange rate in another country. D) will reflect the transportation cost differences in another country.
A possible solution to errors-in-variables bias is to
A) use log-log specifications. B) choose different functional forms. C) use the square root of that variable since the error becomes smaller. D) mitigate the problem through instrumental variables regression.