The evidence suggests that recent technological change
A) permanently increased the natural rate of unemployment.
B) is different from past technological change, in that it has no impact on productivity.
C) has increased productivity in the service sector only.
D) has increased productivity in the manufacturing sector only.
E) has increased the wage gap between skilled and unskilled workers.
E
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Which of the following statements about implicit costs is true?
A. They measure the forgone opportunities of the firm's owners. B. They exceed explicit costs. C. They are always fixed. D. They do not enter into the calculation of economic profit.
What is an isoquant? What is the slope of an isoquant?
What will be an ideal response?
A decline in expected future output would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.
Command-and-control regulation is flexible
a. True b. False Indicate whether the statement is true or false