The business cycle affects output and employment in capital goods industries and consumer durable goods industries more severely than in industries producing nondurables because capital goods and durable goods
What will be an ideal response?
last and these purchases can be postponed
You might also like to view...
If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity demanded, then demand is ________ and total revenue will ________ as a result of the fall in price
A) elastic; increase B) elastic; decrease C) inelastic; increase D) inelastic; decrease
The quantity of money is $1 billion, the price level is 1.10, and real GDP is $10 billion. What is the velocity of circulation?
What will be an ideal response?
What real world complications keep purchasing power parity from being a complete explanation of exchange rate fluctuations in the long run. Explain
What will be an ideal response?
For a firm in a perfectly competitive labor market
A) W > MFC. B) W < MFC. C) W > MRP. D) W = MFC.