If scientific research produces a technological breakthrough in the production of computer memory, then
a. business costs will increase, profits will fall, and production will decrease.
b. business costs will fall, but profits will also fall, and production will decrease.
c. business costs will fall, profits will improve, and production will increase.
d. profits will increase, allowing businesses to cut back production.
c
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The three duties of government, according to Adam Smith, are (1) _____, (2) _____ and (3) _____.
Fill in the blank(s) with the appropriate word(s).
Which of the following would be recorded in the U.S. goods export account?
A. Harry, an American citizen, spends 1,000 francs on vacation in the south of France. B. A machine shop in Ohio purchases a grinder made in New Jersey. C. Martha receives a $50 dividend check on stock she owns in a business in Germany. D. France purchases a new jet fighter aircraft from the Boeing Company in the United States.
________ established the Federal Trade Commission to investigate "…the organization, business conduct, practices, and management" of companies that engage in interstate commerce.
A. Congress B. The Treasury Department C. The Federal Reserve D. The Supreme Court
In the long run, an increase in government purchases of military equipment would cause output to ________ and the aggregate price level to ________.
A. fall; stay constant B. fall; fall C. stay constant; fall D. stay constant; rise