Normative analysis is concerned with how things ______.
a. should be
b. are
c. will be
d. can be
a. should be
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Dryden Press can produce 10,000 textbooks using 10 machines and 100 workers or using 5 machines and 300 workers. It can produce 20,000 textbooks using 10 machines and 300 workers or 5 machines and 600 workers. Construct a two-dimensional contour-type graph to show the relationship between the output of textbooks and the labor and machinery inputs.
What will be an ideal response?
Suppose the price of a tie rises from $45 to $55. Using the midpoint method, what is the percentage change in price?
A) 10 percent B) -10 percent C) 20 percent D) -20 percent E) 100 percent
How is the Solow residual measured? What problems arise in its measurement when resource utilization varies over the business cycle? What implications do these measurement issues have for evidence supporting the RBC model?
What will be an ideal response?
One of the main difficulties with implementing fiscal policy is:
A. the time lag between the time the policy is chosen and the time it gets enacted. B. deciding on a policy without all the relevant information. C. the danger in overshooting or undershooting the goal of full employment. D. All of these are true.