An improvement in production technology will
A. shift the demand curve to the left.
B. shift the supply curve to the left.
C. shift the supply curve to the right.
D. increase equilibrium price.
Answer: C
You might also like to view...
While GDP includes spending on recreation and travel, it does not cover ____________, which is also part of the standard of living.
a. leisure time b. overtime c. sick time d. play time
Expansions in globalization and the reduction of worldwide trade barriers during the 1980s and 1990s most likely had what effect on the demand for U.S. labor?
A. The demand for unskilled workers increased, while the demand for skilled workers decreased. B. The demand for unskilled and skilled workers increased. C. The demand for unskilled workers increased, while the demand for skilled workers did not change. D. The demand for unskilled and skilled workers decreased. E. The demand for unskilled workers decreased, while the demand for skilled workers increased.
In Figure 23.1, for a good with no externality, which area represents the producer surplus? 
A. 0P*CQ* B. 0BCQ* C. ABC D. BP*C
The dire predictions about the underfunded nature of Social Security, Medicare, and state and local pensions could be wrong because
A. interest rates may turn out to be higher in the future. B. unemployment rates may turn out to be higher than they are currently predicted to be. C. taxable incomes may turn out to be higher than they are currently predicted to be. D. taxable incomes may turn out to be lower than they are currently predicted to be.