If a supply curve is perfectly vertical, what is the value of the price elasticity of supply?
Ans: 0
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The chain-weighted output index method of measuring real GDP is based on
A) using current prices rather than base year prices. B) averaging the market value of the expenditures over a two year period and then comparing with a base period. C) using the prices of two adjacent years to calculate the growth rate of real GDP. D) averaging the nominal and real measures of GDP to come up with a more accurate figure.
Economists
a. agree that the costs of reducing inflation to zero are worth the benefits. The increase in unemployment from reducing inflation will be smaller if inflation expectations remain high. b. agree that the costs of reducing inflation to zero are worth the benefits. The increase in unemployment from reducing inflation will be larger if inflation expectations remain high. c. disagree about whether the costs of reducing inflation to zero are worth the benefits. The increase in unemployment from reducing inflation will be smaller if inflation expectations remain high. d. disagree about whether the costs of reducing inflation to zero are worth the benefits. The increase in unemployment from reducing inflation will be larger if inflation expectations remain high.
Bernoulli called the ____________ moral value
Fill in the blank(s) with the appropriate word(s).
Explain the difference between a change in the quantity demanded and a shift in the demand curve
What will be an ideal response?