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
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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.
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.
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
The effectiveness lag for monetary policy is short
a. True b. False Indicate whether the statement is true or false