Critics of stabilization policy argue that monetary and fiscal policies affect the economy with _____
Fill in the blank(s) with correct word
a long lag
You might also like to view...
A firm is currently producing 200 units of output using 60 hours of labor and 80 hours of capital. The marginal product of labor is 12 units of output per hour, and the marginal product of capital is 15 units of output per hour. If the wage rate is $6 per hour and the rental rate is $3 per hour, then
a. the firm's use of labor and capital is cost-efficient. b. the firm should use more labor and less capital. c. the firm should use more capital and less labor. d. we cannot determine if the firm's use of inputs is efficient without more information.
For a natural monopoly, the efficient quantity is produced when the firm is regulated so that
A) P = ATC. B) P > ATC. C) P = MC. D) P > MC. E) P < MC.
Many economists view ________ as explaining most of the increase in the natural rate of unemployment in the U.S. from 1960 to 1980
A) the rise in the percentage of young workers in the labor force B) an increase in the percentage of the working-age population receiving disability insurance C) a decrease in the size of the prison population D) increased use of temporary workers
The income effect is thought to offset the substitution effect among very high wage earners
a. True b. False Indicate whether the statement is true or false