Capital, labor, and natural resources combine to produce goods and services. Which of the following will not lead to an increase in the ability of an economy to produce goods and services?
A) increased training for workers
B) establishing a more productive technology
C) new government restrictions on which technologies may be used to produce goods and services
D) discovery of new oil reserves
Ans: C) new government restrictions on which technologies may be used to produce goods and services
You might also like to view...
As compared to the basic Nash-Cournot equilibrium for duopolists where the firms face the same market demand curve and have identical costs, in the situation where the firms produce products which are viewed by consumers as not being identical,
A) there will generally be different prices charged by the two firms. B) there will generally be different quantities produced by the two firms. C) one or both of the firms may practice spurious differentiation. D) All of the above.
The bid-ask spread:
a. Shows the relative value of two currencies. b. Shows the relative value of three or more currencies. c. Is determined by the government. d. Is usually zero due to efficient markets. e. Represents the profit margin of the financial institution.
Small Business
What will be an ideal response?
The consumer price index overestimates inflation because it
A. allows consumers to move along a given indifference curve from one year to the next. B. uses the second year's market basket as the base rather than the first year's basket. C. measures the cost of a market basket in the second year that has too many units of the most inflated items. D. compares prices of what consumers actually buy rather than a fixed basket of goods.