Increases in skill accounted for most of the 1990 to 2005 increase in U.S. productivity growth
Indicate whether the statement is true or false
F
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Which of the following is an example of a positive statement?
A) It is too hot to go jogging. B) Ceteris paribus, a teacher should award a higher grade if you study more hours for an economics test. C) When the price of an item increases, people respond by reducing their consumption of the item. D) The government should balance the budget.
Technological advancements have led to lower prices and an increase in the sale of color laser printers. How does this affect the market for laser printer ink cartridges?
A) The demand curve for laser printer ink cartridges shifts to the left. B) The quantity of laser printer ink cartridges demanded increases. C) The demand curve for laser printer ink cartridges shifts to the right. D) The quantity of laser printer ink cartridges demanded decreases.
Which of the following would be considered an implicit cost of operating a business?
A) interest payments on a loan B) Social Security contributions for employees C) the resale value of delivery vans the company owns and uses for its deliveries D) shipping expenses
The aggregate supply curve is drawn with
a. the price level on the vertical axis and nominal GDP on the horizontal. b. nominal GDP on the vertical axis and real GDP on the horizontal. c. the price level on the vertical axis and real GDP on the horizontal. d. real GDP on the horizontal and the rate of inflation on the vertical.