Cost curves shift if i. technology changes. ii. the prices of factors of production change. iii. productivity changes
A) only i
B) i and iii
C) only ii
D) i and ii
E) i, ii, and iii
E
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Which of the following is a capital resource?
A. a computer programmer B. silicon (sand) used to make computer chips C. a corporate bond issued by a computer manufacturer D. a piece of software used by a firm
What is TRUE of the aggregate supply curve in the classical model?
A) The aggregate supply curve is downward sloping. B) The aggregate supply curve is vertical. C) The aggregate supply curve is horizontal. D) The aggregate supply curve is not determined by the level of employment.
When the U.S. Treasury sells bonds to the public to finance government spending and then the Fed buys the bonds through open-market purchases, the Fed is
a. monetizing the debt. b. decreasing the money supply. c. decreasing bank reserves. d. increasing the difficulty of raising funds for government spending.
Almost 70 percent of U.S. garbage:
a. is incinerated. b. is recycled. c. goes to landfills. d. is sent on barges to other countries.