The long boom began in
A. 1991.
B. 1947.
C. 1975.
D. 1982.
Answer: D
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Suppose that an Intel worker rearranges existing machines and labor and increases the quantity of chips Intel can produce. Using the productivity curve graphed, this innovation would be described as
A) a movement upward along the curve. B) a movement downward along the curve. C) a shift of the curve upward. D) a shift of the curve downward. E) no change to the productivity curve.
If the nominal interest rate is the same as the real interest rate, then inflation must be:
A. zero. B. higher than the nominal rate of interest. C. lower than the nominal rate of interest. D. negative.
A decrease in the price of spaghetti noodles is likely to cause:
A. an increase in the demand for penne pasta due to a change in the price of a complementary good. B. a decrease in the demand for penne pasta due to a change in the price of a complementary good. C. a decrease in the demand for penne pasta due to a change in the price of a substitute good. D. an increase in the demand for penne pasta due to a change in the price of a substitute good.
Suppose the U.S. was to experience a series of terrorists' attacks aimed at the electricity grid. This would likely
A. decrease aggregate supply. B. decrease aggregate demand. C. increase aggregate supply. D. increase aggregate demand.