Improvements in technology will shift an economy's production possibilities curve
a. inward, then outward.
b. outward, then inward.
c. outward.
d. inward.
c. outward.
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Minimum wages:
A) benefit all workers. B) are usually set below equilibrium wages. C) can reduce wage rigidity. D) can increase unemployment.
Suppose a technological innovation shifts the marginal cost curve downward. Which one of the following cost curves does NOT shift?
A) Firm's short-run supply curve B) Average total cost curve C) Average variable cost curve D) Average fixed cost curve
If Europe and the United States were the only two regions in the world, then U.S. residents might desire to buy euros for all except one of the following reasons. Which is the exception?
a. to invest in Europe b. to buy European goods c. to improve the U.S. balance of payments d. to make loans in Europe e. to buy European stocks
Brian is the sole proprietor owner of Long Voyage Software, which writes programs to generate maps for wilderness trips. He started the business with an initial investment of $80,000 . A faulty map caused one customer to get hopelessly lost. After her rescue and recuperation, she sued Long Voyage Software for $5,000,000 . Which of the following is true? a. The customer can be awarded only
$80,000—what the firm has available to pay. b. The customer can be awarded $5,000,000 . but can get only $80,000. c. The customer can be awarded $5,000,000 . but Brian personally won't have to pay more than $80,000. d. If $5,000,000 is awarded, Brian will have to pay none of it. e. If $5,000,000 is awarded, Brian is personally responsible for paying all of it.