The production function Q = L.5K.5 is called:
A. linear.
B. Cobb Douglas.
C. Leontief.
D. None of the answers are correct.
Answer: B
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A bond that promises to pay $X in 10 years must be worth less than $X now.
Answer the following statement true (T) or false (F)
In the above figure, the sum of real planned investment spending, government expenditures, and net export spending is equal to
A. $0.5 trillion. B. $1.0 trillion. C. $1.5 trillion. D. $2.0 trillion.
In 2014, some European countries were dealing with a recession. Workers who were laid off in those countries due to the economic downturn would be
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) seasonally unemployed.
Suppose the economy is on the intermediate range of the aggregate supply curve. Which of the following would reduce both real GDP and the price level?
a. A decrease in aggregate supply. b. An increase in aggregate supply. c. A decrease in aggregate demand. d. An increase in aggregate demand.