Most firms have very little flexibility in their choice of input proportions.
Answer the following statement true (T) or false (F)
False
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Which of the following formulas is used to calculate the inflation rate?
A) inflation rate = 100 × B) inflation rate = 100 × C) Inflation rate = 100 × D) Inflation rate = 100 × E) inflation rate = 100 ×
A consumer price index of 110 for a given year indicates that prices in that year are 10 percent higher than prices in the base year
a. True b. False Indicate whether the statement is true or false
The money multiplier works best if all transactions in the economy are made through the banking system
a. True b. False Indicate whether the statement is true or false
Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions. Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use
a. Bob and Tom are both frictionally unemployed. b. Bob and Tom are both structurally unemployed. c. Bob is frictionally unemployed, and Tom is structurally unemployed. d. Bob is structurally unemployed, and Tom is frictionally unemployed.