Technological advances that allow a good to be produced at a lower cost will shift the demand curve rightward
a. True
b. False
Indicate whether the statement is true or false
False
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The difference between the lowest price a firm would have been willing to accept and the price it actually receives from the sale of a product is called
A) marginal revenue. B) price differential. C) profit. D) producer surplus.
When actual real GDP is below natural real GDP, we say that
A) the output gap is positive. B) the output gap is negative. C) the output gap has been eliminated. D) the output gap cannot be calculated.
What are some of the suggested remedies for the U.S. trade deficits? What remedies have been attempted? What remedies are left to try?
What will be an ideal response?
When employers discriminate, they
a. believe they have a sound economic reason for doing so. b. may pay the price in lost earnings and productivity. c. subject themselves to civil action. d. All of the above are correct.