If technological change occurs in the economy
A) the long-run aggregate supply curve will shift to the right.
B) the long-run aggregate supply curve will shift to the left.
C) we will move up along the long-run aggregate supply curve.
D) we will move down along the long-run aggregate supply curve.
Answer: A
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Using the data in the above table, the average total cost of producing 16 units per day is
A) $1.25. B) $6.25. C) $7.00 D) $7.50.
For the following question, assume the following facts:
(1 ) Chase (which is located in the United States) has a 20% reserve requirement imposed by the government. (2 ) Bank of Germany has no reserve requirements. (3 ) Both banks may invest at an 8% interest rate. (4 ) Both banks have fixed costs of $3 per deposit made. What is the difference between the minimum interest rates each bank can offer and still make a profit if the deposit is $500 for 1 year? A) 0 - Both banks can offer the same rate. B) 1% C) 1.6% D) 0.4% E) 20%
What is the law of diminishing marginal product? What causes it?
Which of the following might be considered a positive externality?
A) the pollination of an orange grove due to bees kept by a nearby beekeeper B) individuals who did not get the flu, yet did not receive a flu shot when those around them did receive the shot C) better fishing resulting from increased lake temperatures generated by the nearby power plant D) All of the above are correct.