Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter P1, Problem 9KC
To determine
The factor that does not cause the shift in the PPC to the right.
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Topic: What is the world going to be like if we continue to have bilateral economic war in the next 25 years? the tensions that lead to war still exist: religion, money, natural resource, and history all provide way too many “reasons” for countries to want war to achieve their perception of national goals.
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Concept: Technological Progress/LRAS
Suppose an economy experiences technological progress and this causes a shift in the LRAS curve.
Which of the following should not occur?
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OA. There will be reduced pressure on prices as the economy has the ability to produce more real GDP
OB. There should be a shift to the right in the SRAS curve because the increased technology reduces the cost of producing goods in the economy.
OC. There will be an increase in government purchases as the economy has more income
OD. There should be an increase in the amount of income which will cause an increase in AD
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