Which of the following is an example of a good whose price goes down because of improvements in technology?

a) computer printers
b) running shoes
c) hard-bound books
d) typewriters


Ans: a) computer printers

Economics

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In the figure above, if the price falls from $8 to $7, demand is

A) elastic. B) inelastic. C) unit elastic. D) income elastic. E) perfectly elastic.

Economics

Which of the following issues prominent in the presidential election of 2012 shifts the aggregate demand curve rightward?

A) raising taxes on the rich B) increasing Medicare, Medicaid, and Social Security payments C) loosening immigration policies D) allowing more oil drilling on Federal lands

Economics

To maximize expected profit, a perfectly competitive firm with a random marginal cost and random demand should produce at the level that sets ________ equal to ________.

A) price; expected marginal cost B) price; marginal cost C) expected price; marginal cost D) expected price; expected marginal cost

Economics

Gross domestic product that is based on existing prices is called:

a. nominal GDP. b. current GDP. c. money GDP. d. all of these.

Economics