Technology is
A) society's pool of knowledge of how to produce goods and services.
B) a resource like land or physical capital.
C) computers and lasers.
D) not obtainable by engaging in activities that increase human capital.
A
You might also like to view...
The cost of holding money balances increases when
a. the inflation rate decreases. b. the nominal interest rate increases. c. the nominal interest rate decreases. d. nominal GDP is far from full employment.
______ is a fixed-weight index that is based on a consumption bundle actually purchased in the base year.
A. A Lespeyres price index B. Compensating variation C. Real income D. The inflation rate
Price is the only rationing device that can be used in a modern economy
Indicate whether the statement is true or false
In a simple majority vote on a public project,
A) the project will never be undertaken if the costs exceed the benefits. B) the project may be undertaken even though the total costs exceed the total benefits. C) the intensity of individual preferences is taken into account. D) the project will always be undertaken if the total benefits exceed the total costs.