A country's production possibilites increase because the available workers become more skilled at using a computer. This is an example of growth caused by:
a) global resources
b) physical capital
c) technology
d) production opportunity
Ans: c) technology
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Assume the current equilibrium level of income is $200 billion as compared to the full-employment income level of $240 billion. If the MPC is .625, what change in aggregate expenditures is needed to achieve full employment?
A. A decrease of $12 billion. B. An increase of $25 billion. C. An increase of $10 billion. D. An increase of $15 billion.
Two products are complements if:
A. a decrease in the price of one causes buyers to demand less of the other. B. an increase in the price of one causes buyers to demand more of the other. C. a decrease in the price of one causes buyers to demand more of the other. D. individuals consume the goods together.