When a firm experiences a positive technological change
A) the price of a share of the firm's stock rises.
B) the firm is able to produce more output using the same inputs, or the same output using fewer inputs.
C) the value of the firm's assets rises.
D) the firm will hire additional workers in order to increase production.
Answer: B
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When a government fines and/or imprisons convicted drug dealers, it is attempting to reduce the illegal drug trade by shifting the ________ curve for illegal drugs ________
A) demand; rightward B) demand; leftward C) supply; rightward D) supply; leftward
Shortages are associated with price _______; surpluses are associated with price _______.
A. floors; ceilings B. ceilings; floors C. equilibrium; equilibrium D. None of these choices are correct.
A buyer of a newly-issued bond
A) is a borrower of funds. B) is a lender of funds. C) is purchasing ownership in the institution that issues the bonds. D) must be a producer and not a consumer.
If all factors of production that are available for use under current market conditions are being utilized, then the economy has:
A) economic growth. B) comparative advantage. C) full employment. D) inefficient production.