The widespread adoption of computers in the workplace has likely led to
A) an increase in labor productivity because computers are a capital good.
B) a decrease in labor productivity because computers are a capital good.
C) an increase in the supply of labor because people are needed to operate the computers.
D) no change in the quantity of labor hours.
E) a decrease in human capital because computers are physical capital.
A
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If household saving decreases by $3 million, business saving increases by $1 million, and the government budget deficit increases by $2 million, then private saving ________ and public saving ________.
A. decrease; decreases B. increases; decreases C. does not change; increases D. increases; does not change
Cost curves in the long run differ from cost curves in the short run.
Answer the following statement true (T) or false (F)
The inflation that occurred during the Civil War (1861–1865)
(a) was a means of expropriating resources to fight the war. (b) was a form of taxation to provide resources to fight the war. (c) represented a decrease in the purchasing power of money. (d) was true for all of the above.
Discuss some of the reasons why monopoly power is considered undesirable.
What will be an ideal response?