Which of the following does NOT increase the supply of personal computers, that is, does NOT shift the supply curve of personal computers?
A) a fall in the cost of the components used to assemble personal computers
B) a change in the expected future price of a personal computer
C) an advance in the technology used to produce personal computers
D) an increase in the number of firms producing personal computer
E) a rise the price of a personal computer
E
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The prospect of future deficits
A) would prompt government to vastly expand discretionary spending. B) limits the ability of government to conduct fiscal policy in the near future. C) requires a government to eliminate all entitlement spending. D) encourages government to conduct expansionary fiscal policy.
Real GDP is nominal GDP
a. plus depreciation b. adjusted for changes in the price level c. minus depreciation d. minus taxes e. minus inflation
In a competitive market economy, firms select the least-cost production technique because
What will be an ideal response?
The reason for the long-run decline of the agricultural industry is that the:
A. Increases in the demand for farm products have been greater than the increases in the supply of farm products B. Increases in the demand for farm products have been less than the increases in the supply of farm products C. Decreases in the demand for farm products have been less than the increases in the supply of farm products D. Increases in the demand for farm products have been greater than the decreases in the supply of farm products