Most economists generally argue ________ trying to block technological advances because these technological advances ________.
A. in favor of; increase wage inequality
B. against; are necessary for improved standards of living
C. in favor of; cause the economy to grow to rapidly
D. against; promote wage equality
Answer: B
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Suppose that there is an increase in disposable income and simultaneously an increase in the expected profitability of investment. As a result, the equilibrium real interest rate ________ and the equilibrium quantity of loanable funds ________
A) remains unchanged; increases B) rises; increases C) might rise, fall, or remain unchanged; increases D) falls; increases E) might rise, fall, or remain unchanged; decreases
The figure above shows the market for coffee. If more coffee plantations are planted in Brazil and Vietnam so that the supply of coffee increases, the efficient quantity of coffee will ________ and the consumer surplus will ________
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
An increase in input prices will cause the aggregate supply curve to shift rightward
a. True b. False Indicate whether the statement is true or false
Why do decision makers tend to ignore external costs? How can internalizing external costs move us closer to efficient levels of output?