How has organizing a successful firm in a market economy changed over the last century?
A) There has been no change one way or the other over the last century.
B) It has become more difficult to organize an efficient and successful firm.
C) It has become easier as more and more firms discover how to do it.
D) As government intervention has decreased, firms now have more freedom.
B
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During the recession of 2008, the U.S.experienced lower real interest rates at the same time investment and GDP were falling
How would a Classical economist explain this recession? Provide a graph of the Classical capital market to illustrate your arguments.
The marginal rate of technical substitution may be defined as all of the following except:
a. the rate at which one input may be substituted for another input in the production process, while total output remains constant b. equal to the negative slope of the isoquant at any point on the isoquant c. the rate at which all combinations of inputs have equal total costs d. equal to the ratio of the marginal products of X and Y e. b and c
When the actual unemployment rate is less than the natural unemployment rate, the economy is in a recessionary gap
Indicate whether the statement is true or false
Ten years ago, Veronica’s country went through a recession. Many people struggled to get by. The economy has since recovered, but many people are reluctant to spend much of their income, preferring to save as much as possible in case bad economic times return. What impact will this have on economic growth?
a. It will have little impact on growth. b. It will slow economic growth. c. It will boost economic growth. d. It will slow growth in the long term but boost it in the short term.