Moore’s law states that every 18 months, the computing speed of a microchip doubles.

a. what effect does this likely have on the economy?

the price level rises and output falls.
the price level falls and output falls.
the price level falls and output rises.
the price level rises and output rises.
congratulations! you have been appointed an economic policy adviser to the u. s. president. you are told that the economy is significantly below its potential output and that the following will happen next year: world income will fall significantly and the price of oil will rise significantly. (the united states is an oil importer.)

a. what will happen to the price level and output?

price level decreases and output may increase or decrease.
price level may increase or decrease and output increases.
price level increases and output may increase or decrease.
price level may increase or decrease and output decreases.
b. what policy might you suggest to the government?

contractionary monetary policy
expansionary monetary policy
contractionary fiscal policy
expansionary fiscal policy

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

In each of the following cases, find the unknown variable. ignore taxes. (do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) accounting unit price unit variable cost fixed costs depreciation break-even 20,500 $ 44 $ 24 $ 275,000 $ 133,500 44 4,400,000 940,000 8,000 75 320,000 80,000

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.