An improvement in a firm's technology that improves productivity results in a(n):
A. leftward shift of the supply curve.
B. upward movement along the supply curve.
C. willingness to supply a larger quantity than before at any given price.
D. downward movement along the supply curve.
Answer: C
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Explain how low levels of living can turn into a vicious cycle in developing countries
What will be an ideal response?
Suppose the government reduces marginal income tax rates and increases welfare payments. This policy combination will:
A. increase the incentive to work. B. have no effect on the incentive to work. C. have an ambiguous effect on the incentive to work. D. reduce the incentive to work.
When the Fed promised to hold the Fed funds rate close to zero until the end of 2014, it was:
A. carrying out what is known as credit easing. B. following a precommitment policy. C. following a policy that was recommended by Congress. D. carrying out what's known as operation twist.
You write a check to your landlord to pay the rent on your apartment. To your landlord, your check represents a. a claim to goods and services in the future. b. a good with intrinsic value
c. a double coincidence of wants. d. a good with immediate value.