Suppose that a new invention decreases the marginal productivity of labor, shifting labor demand to the left. Such an invention would be an example of
a. labor-saving technology.
b. labor-augmenting technology.
c. revenue technology.
d. supply-shifting technology.
a
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If the inflation rate is 3 percent and the real interest rate is 3 percent, then what is the nominal interest rate?
What will be an ideal response?
Technology has played a key role in changing the structure of the economy, which has increased the rewards for additional education and training. Greater access to education and training programs for all workers should therefore
A) play an important role in reducing income inequality. B) have a net effect of increasing income inequality. C) eliminate all income inequality. D) have little effect on the overall state of income inequality.
The Coase Theorem is the proposition that private transactions are efficient if property rights exist, if only a ________ number of parties are involved, and if transactions costs are ________
A) large; low B) large; high C) small; low D) small; high
What is the federal funds rate? What are the main determinants of the federal funds rate?
What will be an ideal response?