A productivity-enhancing innovation has the effect of
A. shifting a demand curve to the right.
B. shifting a supply curve to the right.
C. shifting a demand curve to the left.
D. shifting a supply curve to the left.
Answer: B
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If the money multiplier decreased from 20 to 12.5, then
a. the Fed increased the reserve ratio from 5 percent to 8 percent. b. the Fed increased the fed funds rate from 5 percent to 8 percent. c. the Fed decreased the reserve ratio from 8 percent to 5 percent. d. the Fed decreased the fed funds rate from 8 percent to 5 percent.
External benefits are those that accrue:
A. directly to the decision maker of a market exchange. B. indirectly to the decision maker of a market exchange. C. without compensation to someone other than the person who caused it. D. to the government without its direct intervention.