There is a technological advance in the production of digital watches. This will cause
a. demand to increase
b. supply to increase
c. demand to decrease
d. supply to decrease
e. the price to increase
B
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Exports are products produced in the home country and sold in another country
Indicate whether the statement is true or false
As welfare rolls declined during the late 1990s and early 2000s,
a. states with aggressive work requirements found that their federal grants also declined b. states with aggressive work requirements were rewarded with larger federal grants c. few welfare recipients were able to find jobs d. there was a significant increase in welfare spending per recipient e. states cut back on their provision of services such as job placement and child care
"Churning" refers to
A) changes in the real wage over the business cycle. B) changes in the markup over the business cycle. C) structural change associated with technological progress. D) the increase in productivity caused by an increase in output. E) the increase in output caused by an increase in productivity.