Which of the following would NOT be an example of a technological change?
A. Google develops a new way to perform Internet searches that makes searches produce more relevant results.
B. A team of nuclear scientists develop a new way of generating nuclear power that is safer than the older methods but is more expensive to implement.
C. The government passes a law expanding the funding available to NASA and other agencies concerned with the advancement of basic science.
D. A pharmaceutical company develops a new drug that effectively fights malaria.
Answer: C
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During the current quarter, a firm produces consumer goods and adds some of those goods to its inventory rather than selling them. The value of the goods added to inventory is
a. not included in the current quarter GDP. b. included in the current quarter GDP as investment. c. included in the current quarter GDP as consumption. d. included in the current quarter GDP as a statistical discrepancy.
Governments often intervene in international trade and impose quotas to
A. shift a nation's production possibilities frontier. B. improve the performance of multinational corporations. C. increase revenues from export subsidies. D. protect domestic industries from foreign competition.