The discovery and dissemination of a new cost-saving technology
a. is an example of a positive demand shock
b. would cause the long-run AS curve to shift leftward, thereby increasing both output and the price level
c. would increase firms' unit costs
d. would lead to an increase in output and a decrease in the price level
e. is an example of a negative supply shock
D
Economics
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In the United States, regulation increased steadily in the areas of health, safety, and the environment during:
a. the Great Depression. b. World War II. c. the 1970s. d. the 1980s.
Economics
The process of innovation is the act of
a. discovering a new production process. b. discovering a new product. c. basic scientific research. d. adopting a new product to a market demand.
Economics