Which of the following best describes the impact of technological change on labor?

Which of the following best describes the impact of technological change on labor?
 a. Technology causes unemployment in the short run and lower incomes in the long run.
 b. Technology causes unemployment in the short run and higher incomes in the long run.
 c. Technology causes unemployment in the long run and higher incomes in the short run.
 d. Technology causes unemployment in the long run and lower incomes in the short run.
 e. Technology causes unemployment and lower incomes in both the long run and the short run.

QUESTION 2

Government regulators can achieve efficiency for a natural monopoly by setting a price ceiling equal to the intersection of the demand curve and the:
 a. marginal revenue curve.
  b. average cost curve.
  c. marginal cost curve.
  d. average fixed cost curve.

QUESTION 3

The most effective mechanism for reducing runs on banks is _____.
 a. the discount rate
 b. deposit insurance
 c. the reserve requirement
  d. open-market operations
  e. the Federal Reserve note

QUESTION 4

In the long run, changing technology on average has led to:
 a. lower employment and lower wage rates.
 b. higher employment and lower wage rates.
 c. lower employment with wage rates unchanged.
  d. higher employment with wage rates unchanged.
  e. higher incomes and more leisure time.

QUESTION 5

Marginal cost pricing is a system of pricing in which the price charged equals the marginal cost of:
 a. the first unit produced.
  b. each unit produced.
  c. the last unit produced.
  d. the profit-maximization unit.

QUESTION 6

The FDIC insures deposits in:
 a. all the commercial banks across the U.S.
 b. Federal Reserve member banks only.
 c. any banking institution that sells FDIC insurance.
 d. any banking institution that purchases FDIC insurance.
  e. any bank approved by the Fed.