A lumpy input is one that
a. is infinitely divisible
b. is not smooth
c. can only be adjusted in large amounts
d. can not be legally employed
e. can be easily adjusted in small amounts
C
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Suppose that the central bank operates under a money supply growth rule, but with changes in the unemployment rate automatically adjusting the money growth target. This is called a ________ rule
A) CGRR B) discretionary C) feedback D) nominally-anchored
A firm producing ink pens reports the following production information:
# of Workers Total Product (boxes of pens per hour) 0 0 1 45 2 80 3 100 4 116 5 126 6 131 The pens sell in a competitive market at a price of $0.50 per box. The firm hires workers in a competitive labor market at a wage of $9 per hour. How many workers should the firm hire? Explain your answer.
The net effect of a devaluation on economic growth depends on the mix of capital and labor utilized in the nation's export industries
Indicate whether the statement is true or false
In the United States, loans from ________ are far ________ important for corporate finance than are securities markets
A) government agencies; more B) government agencies; less C) financial intermediaries; more D) financial intermediaries; less