?In the long run, wages and prices are considered to be:
A. ?fixed.
B. sticky.
C. ?flexible.
D. ?unstable.
Answer: C
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The growth rate of real GDP in the United States rises from 4.2% to 4.4%. Explain and calculate how this increase in the growth rate of real GDP affects the number of years it will take for real GDP to double
What will be an ideal response?
Refer to the table below for an oligopolist’s dilemma. Gillette and Schick are two companies competing in the same oligopoly market. The profit payoff for Gillette is shown in the upper corner of each box, and the profit payoff for Schick is shown in the lower corner of each box. If they do not cooperate the most likely price charged by each firm will be
a. $8 charged by both companies.
b. $6 charged by both companies.
c. $8 charged by Gillette and $6 charged by Schick.
d. $8 charged by Schick and $6 charged by Gillette .
Profit is the payment for
a. land and labor b. risk taking and innovation c. capital and labor d. risk taking and capital e. all of the factors of production
Arrange the following topics into lists of microeconomic and macroeconomic topics: - wages of textile workers - cost of producing 10,000 bookcases - the economy's annual growth rate - national demand for fish - the unemployment rate - the gold futures market - money supply - projected inflation rate next year
A. Microeconomics: wages of textile workers, the unemployment rate, cost of producing 10,000 bookcases, the gold futures marketMacroeconomics: the economy's annual growth rate, money supply, national demand for fish, projected inflation rate next year B. Microeconomics: wages of textile workers, cost of producing 10,000 bookcases, the economy's annual growth rate, unemployment rateMacroeconomics: national demand for fish, the gold futures market, money supply, projected inflation rate next year C. Microeconomics: wages of textile workers, cost of producing 10,000 bookcases, the gold futures market, national demand for fishMacroeconomics: the economy's annual growth rate, the unemployment rate, money supply, projected inflation rate next year D. Microeconomics: the economy's annual growth rate, the unemployment rate, money supply, projected inflation rate next yearMacroeconomics: wages of textile workers, cost of producing 10,000 bookcases, the gold futures market, national demand for fish