Graphically,what Is the Effect of Technological Change

question 75

Multiple Choice

Graphically,what is the effect of technological change?

• A)The long-run average cost curve will shift down,but the short-run curves will not change.
• B)Both the long-run and short-run average cost curves will shift down.
• C)The long-run average cost curve will shift up,but the short-run curves will not change.
• D)Both the long-run and short-run average cost curves will shift up.
• E)It will reduce the size of the average firm.

Understand the relationship between the money supply growth rate and its short-term effects on unemployment and inflation using the Phillips curve.

Analyze the long-term impacts of changes in the money supply on inflation and unemployment.

Explain the natural rate of unemployment and its significance in economic theory.

Describe the effects of expected versus actual inflation on the unemployment rate.

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Definitions:

International Water Management Institute

A research organization that focuses on the sustainable use of water and land resources in developing countries to ensure food security and reduce poverty.

Clean Water

Water that is free of pollutants and contaminants, making it safe for human consumption and use.

Outlay

An amount of money spent on something, often related to business or project expenses.

Poverty Rate

The proportion of a population living below the poverty line, measured by income level.