What is technology and what factors does it depend on?
What will be an ideal response?
Technology is the processes a firm uses to produce goods and services.
In the economic sense, a firm's technology depends on many factors, such as
the skill of its managers, the training of its workers, and the speed and efficiency of
its machinery and equipment.
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Young drivers often buy used cars. An increase in the legal driving age to twenty-one shifts the demand curve for used cars leftward, whereas lowering the age to fifteen shifts the demand curve rightward
Indicate whether the statement is true or false
Your text identifies all of the following as reasons why unsustainable debt may occur EXCEPT
A) when countries are dependent on one or two key export commodities, and there is a sudden drop in the price of those commodities. B) when natural disasters occur. C) when civil conflicts are resolved and a peace dividend occurs. D) when there are corrupt politicians and practices. E) when government officials try to buy votes with unsustainable spending.