How did the increased speed of computers affect the labor market for computer game designers?
A. Decreased wages and increased employment.
B. Increased wages and decreased employment.
C. Increased wages and increased employment.
D. Decreased wages and decreased employment.
Answer: C
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Economic profit equals total revenue minus total
A) explicit costs. B) opportunity costs. C) implicit costs. D) accounting costs. E) entrepreneur's costs.
Explain why the average total cost curve and the average variable cost curve get closer to each other as output expands
What will be an ideal response?
Which of the following is true?
a. Anticipated inflation is an increase in the price level that comes as a surprise, at least to most individuals. b. Unanticipated inflation is a change in the price level that is widely expected. c. When the inflation rate is high and variable, decision makers will generally be able to anticipate year-to-year changes in inflation quite accurately. d. Inflation will tend to increase the nominal values of both prices and wages.
Based on what we know about the globalized AS/AD model, the standard model does not include an analysis of:
A. consumption. B. government spending in the United States. C. investment. D. net exports.