The expansion of human capital and the discovery of new technologies ________ because ________
A) decrease real GDP; they shift the productivity curve downward
B) increase real GDP; they result in a movement upward along the productivity curve
C) increase real GDP; they shift the productivity curve downward
D) increase real GDP; they shift the productivity curve upward
E) decrease real GDP; they shift the productivity curve upward
D
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Only about one-fourth of the federal budget involves expenditure categories determined by existing obligations and laws
a. True b. False Indicate whether the statement is true or false
Which of the following observations would be consistent with the imposition of a binding price ceiling on a market? After the price ceiling becomes effective,
a. a smaller quantity of the good is bought and sold. b. a smaller quantity of the good is demanded. c. a larger quantity of the good is supplied. d. the price rises above the previous equilibrium.