Suppose that there is an increase in technology. The classical model predicts that
a. both output and the price level rises.
b. output rises and the price level remains the same.
c. output rises and the price level falls.
d. none of the above.
C
Economics
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Classify the following goods as private goods, common pool resources, club goods, or public goods
a. Health insurance b. Radio spectrum c. A video on YouTube d. A mosquito control program in a city e. A library's collection of e-books
Economics
A shift from S1 to S2 causes equilibrium price to __________ and quantity to __________.
A. rise; rise
B. fall; fall
C. rise; fall
D. fall; rise
Economics