Suppose that a dramatic technological breakthrough related to nuclear fusion occurs so that the cost of energy is significantly reduced. We would expect that the immediate effect of this technological advance is
a. a shift to the right in most demand curves
b. a decrease in the demand for automobiles
c. a shift to the right in most supply curves
d. to cause long-run supply curves to become steeper
e. to increase the price of fossil fuels
c. a shift to the right in most supply curves
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Assuming diminishing returns,
a. the increase in output growth from an increase in the saving rate rises over time, and that, other things the same, rich countries should grow faster than poor ones. b. the increase in output growth from an increase in the saving rate falls over time, and that, other things the same, rich countries should grow faster than poor ones. c. the increase in output growth from an increase in the saving rate rises over time, and that, other things the same, poor countries should grow faster than rich ones. d. the increase in output growth from an increase in the saving rate falls over time, and that, other things the same, poor countries should grow faster than rich ones.
Refer to Figure 7.1. Which of the following statements is incorrect?
A. Bundle F costs less than bundle D. B. Bundle C costs as much as bundle E. C. Bundle G costs more than bundle C. D. Bundle B costs less than bundle C.
A weaker U.S. dollar leads to higher input prices for U.S. firms because
A. both imports of raw materials and intermediate goods are higher in prices. B. U.S. workers are willing to work for less pay because of the weaker U.S. dollar. C. both exports of raw materials and intermediate goods are higher in prices. D. U.S. producers of intermediate goods raise prices in order to benefit from the weaker dollar.
The stock market collapse of 1929 might have been averted had large corporations maintained their participation in the market for securities loans in 1925–1929
Indicate whether the statement is true or false