A technological advance ________ aggregate supply, shifting the aggregate supply curve ________ and potentially bringing the ________ phase of the business cycle
A) decreases; rightward; expansion
B) decreases; leftward recession
C) increases; rightward; expansion
D) increases; rightward; recession
E) increases; leftward; expansion
C
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A homeowner’s roof is damaged during a hail storm, so the homeowner files a claim with his insurance company. The roof repair will cost $1,000. According to the insurance policy, the insurance company must pay 70% of the repair cost, and the homeowner must pay 30%. Which term describes this method of cost-sharing?
a. Copayment b. Coinsurance c. Deductible d. Fee-for-service
Under the U.S. patent system, a patent application must provide evidence that the invention works, and that is based on another invention
a. True b. False Indicate whether the statement is true or false
Which of the following is the best measure of an increase in actual output?
A. Nominal GDP. B. Real GDP. C. Per capita GDP. D. GDP per dollar.
When Germany increased fiscal spending and raised interest rates in the early 1990s,
A) economic growth increased throughout Europe. B) other countries were forced to raise interest rates to stay in the ERM. C) it was unsuccessful in supporting East Germany. D) it forced other countries to devalue their currencies.