An inside lag is the time period it takes for the stabilization policies to take effect after they have been implemented.
Answer the following statement true (T) or false (F)
False
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All else equal, if individuals save less because inflation lowers returns on savings, this should ________ the supply of loanable funds and ________ the capital stock
A) increase; raise B) increase; reduce C) decrease; raise D) decrease; reduce
Consider the following short-run production function: q = 5 - 1/3 . At what level of L do diminishing marginal returns begin? At what level of L do diminishing returns begin?
What will be an ideal response?
Consumers are willing to pay a higher price for a ________-quality good because it provides them with ________ benefits.
A) higher; less B) lower; more C) lower; less D) higher; more
If diminishing marginal returns is in effect
A) marginal costs fall. B) marginal costs rise. C) average costs fall. D) average revenue is constant.