Which of the following will most likely happen when better technology is used in production?
A) an upward movement along the production possibilities curve
B) an outward shift of the production possibilities curve
C) an inward shift of the production possibilities curve
D) a downward movement along the production possibilities curve
B
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The natural rate of unemployment is also called:
A) non-accelerating inflation rate of unemployment. B) accelerating inflation rate of unemployment. C) accelerating deflation rate of unemployment. D) none of the above.
The evidence on the interest sensitivity of the demand for money suggests that the demand for money is ________ to interest rates, and there is ________ evidence that a liquidity trap exists
A) sensitive; substantial B) sensitive; little C) insensitive; substantial D) insensitive; little
Statistical discrimination is when you take action to:
A. reveal private information about someone else. B. reveal one's own private information. C. find out the opportunity cost of acquiring more information. D. fill gaps in your information by generalizing based on observable characteristics.
If MUx/Px > MUy/Py, the consumer can increase utility by buying more of good x, which will cause the MUx to rise
a. True b. False