Which of the following is NOT an example of technological progress?
A) the invention of the microwave oven
B) an increase in the labor supply as the result of population growth
C) the development of laser eye surgery
D) the development of smart phones
B
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Following the economic crisis in 1994–1995, the Mexican peso fell sharply in value. What will be the main economic effects in Mexico of such an exchange rate change?
A. It will decrease aggregate demand and aggregate supply, so that output will certainly fall, and prices may fall as well. B. It will increase aggregate demand and aggregate supply, so that output will certainly rise, and prices may rise as well. C. It will increase aggregate demand and decrease aggregate supply, so that prices will certainly rise, and output may rise as well. D. It will decrease aggregate demand and increase aggregate supply, so that prices will certainly fall, and output may fall as well.
State whether the following statement is true or false AND explain why: "An increase in the interest rate paid on excess reserves will always cause an increase in the federal reserve funds rate."
Indicate whether the statement is true or false
A decrease in supply will cause a surplus at the original market price
a. True b. False Indicate whether the statement is true or false
The quantity of goods exchanged in a market will be below the equilibrium quantity
a. when the price is either held above or below the equilibrium price. b. only when the price is held above the equilibrium price. c. only when the price is held below the equilibrium price. d. only when the price is rising.