Outsourcing leads to
A. Increases in total output, but with permanent job losses for some domestic workers.
B. Decreases in total output, along with permanent job losses for some domestic workers.
C. Decreases in total output, but with no changes in the number of domestic jobs available.
D. Increases in total output, but with temporary job losses for some domestic workers.
Answer: D
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Positive demand shocks have a tendency to ________ real GDP relative to potential GDP and ________ the inflation rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
If individuals were fully rational, financing services such as social networks and search engines by selling data collected on consumers would be:
A. less of a problem than otherwise because consumers would not be inappropriately influenced by advertising. B. less of a problem than otherwise because consumers would not be inappropriately influenced by government. C. more of a problem than otherwise because consumers would not be inappropriately influenced by advertising. D. more of a problem than otherwise because consumers would not be inappropriately influenced by government.
If total costs are $50,000 when 1000 units are produced, and total costs are $50,100 when 1001 units are produced, we can conclude that
A) average variable costs are $100. B) average total costs are $100. C) average fixed costs are $100. D) marginal costs are $100.
Suppose that the price of computer chips increases by 20 percent during the early stages of an economic recovery. Intel, a chip manufacturer, increases its payroll by 1,000 workers. Intel's hiring of new workers is best described as a
a. long-run adjustment to the price change b. complete adjustment to the price change c. market-day adjustment to the price change d. short-run adjustment to the price change e. shift to the left in Intel's supply curve for computer chips