An improvement in technology would shift which of the following curve(s)?
What will be an ideal response?
short-run and long-run aggregate supply
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A rise in the money wage rate shifts the
A) AD curve rightward. B) AD curve leftward. C) AS curve rightward. D) AS curve leftward. E) potential GDP curve rightward.
Producer surplus for the whole market can be thought of as
A) total profit. B) variable operating profit plus factor rents. C) total profit minus factor rents earned by lower cost firms. D) total profit plus factor rents earned by lower cost firms.
If the U.S. interest rate, adjusted for people's expectation of inflation, increases sharply relative to the rest of the world, then
A) there will be a decrease in the demand for dollars in foreign exchange markets. B) there will be no change in the demand for dollars in foreign exchange markets but there will be an increase in demand for foreign currency. C) the dollar will appreciate. D) the dollar will depreciate.
Which of the following activities describes the opportunity cost of attending an economics class?
What will be an ideal response?