An increase in total factor productivity could be the result of
A) adverse weather.
B) the addition of new machinery.
C) new hires.
D) the introduction of new manufacturing methods.
D
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If, at the current price, there is a shortage of a good, then a. sellers are producing more than buyers wish to buy. b. the market must be in equilibrium
c. the price is below the equilibrium price. d. quantity demanded equals quantity supplied.
According to the textbook, government price controls fail because:
A. bureaucrats lack accurate market data. B. firms ignore the price controls. C. they are not enforced by government. D. legislation cannot alter basic economic incentives.
Checkable deposits are money because they are:
A. Legal tender B. Fiat money C. Acceptable as payment D. Token money
Lenders generally want borrowers to agree to invest prudently, yet once a loan is made borrowers may use the funds in a highly risky fashion. This leads to the problem of
A) deposit insurance. B) investor selection. C) critical mass. D) moral hazard.