Within the AD/AS model, an increase in capital formation that permits the economy to achieve a larger output will
What will be an ideal response?
increase long-run aggregate supply.
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The "zero sum" society is
A) a society that has reached its limit in population growth and has placed quotas on its birth rate. B) a society where the rate of growth of GDP minus the inflation rate equals zero. C) a society in which the fluctuations of GDP around the natural level of output sum to zero. D) a society with no productivity growth in which any additional good enjoyed by one person requires that something be taken away from someone else.
These credit default swaps were also turned into other securities
What will be an ideal response?
The income elasticity of demand for an inferior good could be
A. negative. B. zero. C. positive. D. any one of these depending on the other factors involved.
Number of workersUnits of output0012525539541255150Table 8.2Refer to Table 8.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. Diminishing returns set in with the addition of the:
A. third worker. B. fourth worker. C. fifth worker. D. sixth worker.