Which of the following could explain a leftward shift of the labor demand curve?
a. Firms are unable to sell all the output they produce.
b. Workers have become less productive.
c. Workers have become more productive.
d. Both (a) and (b) are correct.
e. The demand curve for the product that firms sell shifts to the right.
D
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Which of the following statements correctly describes the distinction between technology and technological change?
A) Technology involves research and development while technological change involves the use of more efficient machinery. B) Technology is product-centered; its refers to developing new products with limited resources while technological change is process-centered in that it focuses on developing new production techniques. C) Technology refers to the processes used by a firm to transform inputs into output of goods and services while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs. D) Technology refers to the ability of a firm to increase its maximum output from a given quantity of inputs and technological change is the process by which the firm achieves this productivity gain.
The study of how society manages its scarce resources is most closely associated with which field of study?
a. environmental studies b. economics c. management d. accounting
Sectoral shifts temporarily cause unemployment
a. True b. False Indicate whether the statement is true or false
Monetarists advocate that the
A. money supply should be increased during inflation and reduced during recession. B. money supply should be reduced during inflation and increased during recession. C. money supply should be increased by a constant rate year after year. D. counter cyclical approach to fiscal policy be adopted.