Because it is a machine, a personal computer should be treated as a fixed input in the typical firm's short-run production function

Indicate whether the statement is true or false


FALSE

Economics

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When the unemployment rate is greater than the natural unemployment rate, real GDP is

A) greater than full employment GDP. B) less than potential GDP. C) equal to potential GDP. D) greater than potential GDP. E) unrelated to potential GDP.

Economics

Refer to Table 2-2. Assume Billie's Bedroom Shop only produces pillows and blankets. A combination of 5 pillows and 21 blankets would appear

A) along Billie's production possibilities frontier. B) inside Billie's production possibilities frontier. C) outside Billie's production possibilities frontier. D) at the vertical intercept of Billie's production possibilities frontier.

Economics

Refer to Figure 10-9. If the consumer has $240 to spend on DVDs and CDs, what is the price of a CD if the budget constraint is BC2?

A) $8 B) $10 C) $20 D) $40

Economics

The effectiveness lag for monetary policy is short

a. True b. False Indicate whether the statement is true or false

Economics