The aggregate production function shows how ________ varies with ________
A) leisure time; labor
B) labor; leisure time
C) real GDP; labor
D) labor; capital
C
Economics
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Utility refers to how much consumers utilize a product or service.
a. true b. false
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Exports minus imports equals net exports.
a. true b. false
Economics
In the summer of 1953, the Korean War ended and government expenditures decreased. In terms of the AS/AD model, this change should have:
A. shifted the AD curve to the left. B. made the AD curve flatter. C. made the AD curve steeper. D. shifted the AD curve to the right.
Economics
By raising and lowering the discount rate, the Fed changes the
A. Level of required reserves held by individuals. B. Incentive for banks to borrow reserves. C. Incentive for banks to buy common stock. D. Money multiplier.
Economics