A production function shows the greatest amount that a firm will produce given the amount of labor input.
Answer the following statement true (T) or false (F)
True
Economics
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Which of the following is NOT one of the economic problems that the "New Economy" is alleged to have solved?
A) deflation B) slow growth in productivity C) the budget deficit D) business cycle
Economics
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.
Economics
The reasons behind this decline in employment could be all of the following except
What will be an ideal response?
Economics
The automatic budget surpluses and budget deficits that occur in the federal budget over the business cycle
A) destabilize the economy. B) stabilize the economy. C) decrease potential GDP. D) increase potential GDP.
Economics