During the "computer revolution" of the 1980s and 1990s, many firms replaced old technology with new technology. What might explain why firms don't change technology as quickly today?
What will be an ideal response?
The marginal rate of technical substitution of old technology for new technology was low in the past, but the marginal rate of technical substitution of new technology for newer technology is higher today.
Economics
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The leader of the monetarist school and major proponent of a monetary growth rule was
A) Ben Bernanke. B) Paul Volcker. C) Milton Friedman. D) Alan Greenspan.
Economics
The cash or concessions present in contract terms that parties agree to in order to share risks are called:
a. quid pro quos. b. property rights. c. flexible takes. d. contract prices.
Economics