Which of the following is an example of technological progress?
A) the invention of the air conditioner
B) the invention of LCD televisions
C) an increase in corn output resulting from genetic engineering
D) all of the above
D
Economics
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A shift in the supply curve of bicycles resulting from higher steel prices will lead to: a. higher prices of bicycles
b. lower prices of bicycles. c. a shift in the demand curve for bicycles. d. a larger output of bicycles.
Economics
The nation’s disposable income increases by $400 billion and, as a result, consumer spending increases by $320 billion. Therefore, the MPC equals
A. 0.16. B. 0.20. C. 0.60. D. 0.80. E. 0.96.
Economics