When technological progress occurs, the production possibilities curve
a. shifts inwards to the left
b. becomes flatter in one end and steeper at the other end
c. becomes steeper
d. shifts outwards to the right
e. does not change
D
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Which of the following would certainly increase the demand for labor?
a. an increase in demand for the final product and an increase in the productivity of labor b. an increase in demand for the final product and a decrease in the productivity of labor c. a decrease in demand for the final product and an increase in the productivity of labor d. a decrease in demand for the final product and a decrease in the productivity of labor
The _____ measures the degree of association between two independent variables in an a distribution
a. expectation b. standard deviation c. correlation coefficient d. variance
How are Treasury bond prices affected when the interest rate falls?
A. The purchaser of the bond needs to spend less money to obtain a given number of dollars of interest per year, so the price of the bond must decrease. B. The purchaser of the bond needs to spend more money to obtain a given number of dollars of interest per year, so the price of the bond must increase. C. The purchaser of the bond needs to spend more money to obtain a given number of dollars of interest per year, so the price of the bond must decrease. D. The purchaser of the bond needs to spend less money to obtain a given number of dollars of interest per year, so the price of the bond must increase.
Landon demands more sushi as his income increases. From this we can conclude that, for Landon:
A. sushi is a normal good. B. sushi is an inferior good. C. sushi is a complementary good. D. sushi is a substitute good.