An advance in technology in the production of good X causes
A) a rightward shift in the supply curve for good X.
B) a leftward shift in the supply curve for good X.
C) the supply curve for good X to change from upward sloping to vertical.
D) the supply curve for good X to change from vertical to upward sloping.
A
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Because the natural rate of unemployment is not known precisely, policymakers who use it as a guide for policy must be
A) less aggressive with policy changes than they would be if they knew the value of the natural rate. B) more aggressive with policy changes than they would be if they knew the value of the natural rate. C) ready to change policy more quickly. D) aware of other data.
When the U.S. real interest rate rises ________
A) U.S. dollar assets earn a higher return relative to foreign assets B) makes U.S. exports cheaper in foreign currencies C) imports will decrease D) all of the above E) none of the above