Which of the following is an example of positive technological change?
A) A firm conducts a new advertising campaign. As a result, the demand for the firm's surf boards increases.
B) A firm buys an additional machine that it uses to make surf boards. As a result, the firm is able to increase its weekly production of surf boards.
C) A firm offers workers a higher wage to work on weekends and at night. As a result, the firm is able to increase its weekly production of surf boards.
D) A firm's workers participate in a training program designed to increase the number of surf boards they can produce per day.
D
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Patents are ________ barriers to entry and public franchises are ________ barriers to entry
A) legal; legal B) legal; natural C) natural; legal D) natural; natural
One potential implication of the use of fiscal policy is crowding out
What will be an ideal response?
Suppose a country has a larger increase in debt in 2014 than it had in 2013 . Then other things the same,
a. the supply of loanable funds shifts rightward and the interest rate falls. b. the supply of loanable funds shifts leftward and the interest rate rises. c. the demand for loanable funds shifts leftward and the interest rate falls. d. the demand for loanable funds shifts rightward and the interest rate rises.
If an economy produces 2,000 units of output with a price level of $2 and the money supply (M) is $1,000, velocity is:
A. 1. B. 2. C. 4. D. 500.