An improvement in technology would shift which of the following curve(s)?
a. aggregate demand and short-run aggregate supply
b. only the short-run aggregate supply
c. only the aggregate demand
d. short-run and long-run aggregate supply
D
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Pietro is a manager at a carwash. He has hired 10 workers to wash and detail cars for him and is considering what type of payment scheme he should set up for his workers
He can pay each of his workers $9 per hour to wash and detail cars, or he can pay his workers $12 for each car a worker washes and details. (It takes 75 minutes, on average, for an employee to wash and detail a car.) If Pietro wants to maximize the number of cars his workers wash and detail in one day, which payment scheme should he use? Explain.
The U.S. dollar: a. is the most ancient form of money
b. is an example of modern money. c. is backed by gold. d. is accepted everywhere around the world.