A competitive market creates strong pressure for technological innovation that
A. Provides the firm with more market power.
B. Shifts the firm's demand curve to the right.
C. Shifts the supply curve to the right.
D. Allows the firm to raise the price of its product.
Answer: C
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When the real interest rate increases
A) the supply of loanable funds curve shifts rightward. B) the supply of loanable funds curve shifts leftward. C) there is a movement upward along the supply of loanable funds curve. D) there is a movement downward along the supply of loanable funds curve.
If the consumption of a good by one person reduces its consumption by others, then the good is
A. nonrivalrous in consumption. B. rivalrous in consumption. C. nonexcludable. D. excludable. E. b and d
Among the answers given below, which one does not explain why an economy grows?
a. growth of population and the labor force b. capital accumulation and capital deepening c. technological change d. high death rates and high birth rates e. increases in skill levels for workers
Refer to the information provided in Figure 6.10 below to answer the question(s) that follow.
Figure 6.10Refer to Figure 6.10. The current price of a turkey sandwich is $4. If Kyle is currently buying seven turkey sandwiches a week, he ________ maximizing utility because the marginal utility ________ than its price.
A. is; from the seventh sandwich is greater B. is not; gained from the seventh sandwich is less C. is; from the seventh sandwich is less D. is not; gained from the seventh sandwich is greater