Fiscal policy can be implemented more quickly than monetary policy
Indicate whether the statement is true or false
FALSE
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According to Robert Solow, the production function should be written as
A) Y = F(K, L, A). B) Y = F(K, L). C) Y = F(A, L). D) Y = F(K, A).
In monopolistic competition, in the long run firms have
A) a capacity shortage. B) excess capacity. C) an economic profit. D) an economic loss.
Distinguish between risk that can be reduced through diversification and risk that cannot be reduced through diversification
What will be an ideal response?
Stanley receives the following marginal utilities from the first four car washes that he buys each year, respectively: 20, 15, 10, and 5 . If each car wash sells for $10, then the marginal utility per dollar spent on the third car wash is
a. 10 b. 4.5 c. 1 d. 45 e. 5