Historically, technology has:
A. worsened and the demand for labor has increased as output has decreased.
B. improved and the demand for labor has decreased as output has increased.
C. worsened and the demand for labor has decreased as output has decreased.
D. improved and the demand for labor has increased as output has increased.
Answer: D
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A subsidy
a. used in an abatement equipment market can achieve an efficient solution if the subsidy is set equal to the MEB at QE b. on pollution reduction activity encourages firms to reduce pollution below a predetermined standard c. on abatement equipment can create bias by changing the relative prices of various abatement technologies d. all of the above e. (a) and (b) only
Specialization and trade exploit differences in productivity across workers and
A) make everyone better off. B) only benefit the importer. C) make everyone worse off. D) only benefit the exporter.
Which of the following appears as an asset on the Federal Reserves balance sheet?
A) Commercial bank deposits B) Bank reserves C) Gold certificates D) U.S. Treasury deposits
If the economy experiences inflation and economic growth, this means that aggregate demand grows by more than aggregate supply.
Answer the following statement true (T) or false (F)