Technological innovation in the production of computers has led to
A) a decrease in the quantity demanded for computers.
B) a rightward shift of the supply curve for computers.
C) a decrease in the quantity supplied of computers.
D) None of the above.
B
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The main process by which a recessionary gap is eliminated is a(n)
A. increase in wages that shifts the aggregate supply curve inward. B. drop in wages that shifts the aggregate demand curve inward. C. increase in wages that shifts the aggregate demand curve outward. D. drop in wages that shifts the aggregate supply curve outward.
What is the Fed's monetary policy instrument?
What will be an ideal response?
Suppose a firm has a Cobb-Douglas weekly production function Q = F(L, K) = 25L0.5K0.5, where L is the number of workers and K is units of capital. The wage rate is $900 per week, and a unit of capital costs $400 per week. Assuming no fixed costs, what is the firm's total cost of production if it uses least-cost input combination to produce 675 units of output?
A. $48,600 B. $43,650 C. $35,100 D. $32,400
If autonomous consumption decreases, then
A. There will be a movement to the left along the AD curve. B. The AD curve will not be affected. C. The AD curve will shift to the right. D. The AD curve will shift to the left.