Technological progress will
A) shift the LAS curve rightward but will not shift the SAS curve.
B) not shift either the LAS or the SAS curve.
C) shift both the LAS and SAS curves rightward.
D) shift the SAS curve rightward but will not shift the LAS curve.
C
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Which of the following is NOT a fiscal policy?
A. Lowering personal tax rates to influence labor supply B. Increasing the money supply to expand aggregate demand C. Offering subsidies to export firms D. Increasing tariffs to reduce imports
People living in the town of Norwich, England, have begun a system of trade called the LETS, which allows people to enter into exchanges without using the British pound. Members offer a particular service, such as babysitting, gardening, and plumbing for which they get Croy credits. They can then use these Croys to buy services from other people. Does this system represent what economists call barter?
A. No, to be true barter, the exchange rate between the Croy and the British pound must be flexible. B. Yes, because the Croy is not real money but just a bookkeeping account. C. Yes, because it does not use the true money, the British pound. D. No, this group has merely replaced one money, the pound, with a less flexible medium of exchange that they call the Croy.