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Q: Why don't economist consider the effects of changes to technology when focusing on the short run?
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What four environmental trends are most instrumental in creating business opportunities?

Four environmental trends that are most instrumental in creating business opportunities are information technology, the global marketplace, focusing on consumers, and analyzing demographics. Each of these areas offers job growth and makes efficient changes to the business model.


Discuss how the changes in technology have affected the effectiveness of US export control policy?

Changes in technology have allowed the US to decrease the educational gap and increase higher learning, with more individuals receiving degrees. Technology has also prepared the US government whenÊdealing with attacks and terrorism on its soil, with advanced tools used by the military.


Does a change in producers' technology lead to a movement along the supply curve or a shift in the supply curve?

Changes in a producer's technology can lead to a SHIFT in the supply curve.


Why do economist use percentage change to calculate elasticity of demand?

They use percentage change because of the nature of the unit being described. The elasticity of demand specifies how much percentage demanded changes in response to a 1% increase in price.


What is deflation in economics?

Deflation is when prices on average go down without productivity increases or technology changes making this happen. So the prices of computers going down is not deflation because technology changes have made this happen. This happens because there are fewer dollars in circulation This is the opposite of inflation where the prices increase.