When a firm experiences negative technological change it can produce the same output with fewer inputs
Indicate whether the statement is true or false
FALSE
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Sherri lives in Canada and is considering buying a new sofa. If the price level in Canada falls and the price level in the United States does not change, Canadian manufactured sofas are relatively
A) less expensive, so Sherri will likely purchase a U.S. manufactured sofa. B) less expensive, so Sherri will likely purchase a Canadian manufactured sofa. C) more expensive, so Sherri will likely purchase a U.S. manufactured sofa. D) more expensive, so Sherri will likely purchase a Canadian manufactured sofa. E) Both answers B and D could be correct depending on whether U.S. manufactured sofas were initially more expensive or less expensive than Canadian sofas.
Which of the following would likely result as a consequence of rent controls?
A) a reduction in the rate of construction of rental housing units B) unimproved buildings and apartment complexes C) limits on tenant mobility D) All of the above are correct.
Since the 1930s, out-of-pocket payments for health care have
A) declined from about 50 to 30 percent of total payments. B) declined from about 95 to 20 percent of total payments. C) declined from about 70 to 30 percent of total payments. D) not changed and remain at 70 percent of total payments.
What best describes the role of the United States in World War I?
a. The U.S. entered World War I as soon as it started. b. The U.S. was a neutral moderator throughout the war. c. The U.S. entered the war on the side of Russia and opposed Austria Hungary. d. U.S. business suffered severe financial losses during the war.