The Invention of the Integrated Circuit by Jack Kilby of Texas

question 175

Multiple Choice

The invention of the integrated circuit by Jack Kilby of Texas Instruments gave rise to the information age.What did this technological change do to the short-run supply curve?

• A)It shifted the short-run aggregate supply curve to the left.
• B)It shifted the short-run aggregate supply curve to the right.
• C)It moved the economy up along a stationary short-run aggregate supply curve.
• D)It moved the economy down along a stationary short-run aggregate supply curve.
• E)It made the short-run aggregate supply curve flatter.

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Definitions:

Business Activity

Any action undertaken by individuals or companies, such as buying, selling, marketing, or production, aimed at generating income.

Marketing

Marketing encompasses the strategies and tactics companies use to identify, engage, and satisfy customers' needs and wants, thereby generating sales and fostering brand loyalty.

Separate Legal Entity

A business structure that is legally distinct from its owners, allowing it to own assets, incur liability, and conduct business in its own name.

Corporation

A legal entity formed by individuals, shareholders, or shareholders, recognized as separate from its owners with its own rights and liabilities.