Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and a decrease in demand are represented by a movement from

Which of the following statements is true?

A) Technological innovation can cause wages to fall for some workers. B) Technological innovation increases wages for all workers in an economy. C) Technological innovation always leads to unemployment in the economy as a whole. D) Technological innovation reduces the demand for goods and services in an economy.

Gross domestic product can be thought of as a measure of

A) the national money supply. B) national income. C) national welfare. D) the national value of all legal exchanges. E) none of the above.