How has the development of the microchip and information technology contributed to increased productivity?
What will be an ideal response?
There are two main domestic reasons for the increase in productivity. First, many advocates of continuance of the recent increase in trend rate productivity cite the microchip and the growth of information technology as a key factor in the boom of productivity. They have led to the production of the pocket calculator, personal computer, laptop, cell phone, digital camera, and many other technologies. Moreover, the boom in these technologies has encouraged the push to link these technologies together.
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Privatization of a state-owned monopoly can
A) allow governments to capture future producer surplus. B) allow governments to be more efficient. C) reduce bribery of government officials. D) increases chances of reelection for politicians.
Which of the following is in charge of the buying and selling of government securities by the Fed?
a. The president. b. The Federal Open Market Committee. c. The Congress. d. None of these.