The internet has changed how people shop for clothes, electronics, and other goods. Because of online shopping, many retailers have closed or shut down. How has this affected goods like clothes?
A. The supply of goods like clothes will decrease.
B. The demand for goods like clothes will increase.
C. The supply of goods like clothes will increase.
D. The demand for goods like clothes will decrease.
Answer: C
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Graphically illustrate and explain the effects of an increase in the rate of technological progress on the Solow growth model. In your answer, you must clearly label all curves and the initial and final equilibria. In your answer, explain what happens to the rate of growth of output per worker and the rate of growth of output as the economy adjusts to this increase in the rate of technological
progress. What will be an ideal response?
Refer to the data. The marginal cost curve would intersect the average variable cost curve at about:
A. 2 units of output.
B. 4 units of output.
C. 6 units of output.
D. 7 units of output.