A technological improvement in the production of tablets would
A) increase the demand for tablets.
B) increase the supply of tablets.
C) decrease the demand for tablets.
D) decrease the supply of tablets.
B
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If Joe buys a coffee at Starbucks, his money serves as a
A) unit of accounting. B) standard of deferred payment. C) store of value. D) medium of exchange.
In the year after the stock market crash of 1929, stock prices on average ___
a. were lower than they had been in decades b. were lower than in 1929 but higher than in the mid-1920s c. rebounded to a level higher than in 1929 d. cannot be reliably calculated because no buyers could be found for many stocks, and hence no prices were reported
The vicious circle of poverty refers to the fact that LDCs are poor because other countries do not want to buy their goods and services
a. True b. False Indicate whether the statement is true or false
The main reason that the deficit grows in a recession is that
A. the government reacts quickly and adjusts taxes to compensate. B. monetary policy that targets interest rates causes the costs of borrowing to fall. C. the deficit causes the recession, and reducing the deficit cures the recession. D. many forms of taxes act as automatic stabilizers.