Each of the following would be an example of technological change, EXCEPT
A. increases in output due to increases in capital.
B. improvements in the qualities of resources.
C. improved knowledge about how to combine resources.
D. the introduction of totally new production processes.
A. increases in output due to increases in capital.
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Pookie's Pinball Palace restores old Pinball machines. Pookie has just spent $300 purchasing and cleaning a 1960s-era machine which he expects to sell for $2,000 once he is finished with the restoration
After having spent $300, Pookie discovers that he will need to rewire the entire machine at a cost of $1,100 in order to finish the restoration. Alternatively, he can sell the machine "as is" now for $1,000. What is his marginal benefit if he sells the machine "as is" now? A) $300 B) $900 C) $1,000 D) The marginal benefit cannot be determined.
A bank may hold secondary reserves, such as U.S. government securities because:
a. they pay higher interest rates than deposits at the Fed, and are easily converted into cash assets. b. they pay higher interest rates than deposits at the Fed, even though they are hard to convert assets. c. they pay lower interest rates than deposits at the Fed, but are more easily converted into cash assets. d. they pay lower interest rates than deposits at the Fed, and are hard to convert into cash assets.