The development of new technology typically:
A. shifts the supply curve to the right.
B. reduces profits.
C. results in a downward movement along a supply curve.
D. shifts the demand curve to the right.
Answer: A
You might also like to view...
In a two-period model with production, a temporary increase in domestic government spending
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) decreases domestic output and increases the current account surplus. D) decreases domestic output and decreases the current account surplus.
(I) Positive economics cannot determine how much income inequality should be present in a country. (II) Critics of government action to reduce income inequality argue that modifying the market process of income determination may create perverse incentives and hurt wealth creation
a. Both I and II are true. b. Both I and II are false. c. I is true; II is false. d. I is false; II is true.
In a country with a working-age population of 30 million, 18 million are employed, 2 million are unemployed and 2 million of the employed are working part-time, half of whom wish to work full-time. The labour force participation rate is
A) 60 percent. B) 66.7 percent. C) 53.3 percent. D) 73.3 percent E) none of the above.
While on the gold standard prior to 1914, an ounce of gold could be redeemed for ________ , after World War II it could be redeemed for ________
a. $4; $20 b. $4; $5 c. $20; $35 d. $4; $35