What is the key difference between the short-run and long-run in terms of elasticity of supply?
A. Fixed productive capacity
B. Labor changes
C. No changes can be made to capital or labor
D. No difference
A. Fixed productive capacity
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Average growth rates of per capita income were close to zero, on average, prior to the Industrial Revolution.
Answer the following statement true (T) or false (F)
The credit spread is countercyclical and coincident, suggesting that a sudden increase in financial frictions is most likely ________
A) when the economy has been expanding for some time B) after the economy has turned into a recession C) during the recovery phase of the business cycle D) when expected inflation is declining
The reason that some corporations grow so big is
A. double taxation. B. that they are a separate entity from their owners. C. that they have limited liability. D. that they cannot be regulated.
The supply curve of U.S. dollars is drawn assuming other things constant, such as
a. income in the rest of the world b. expectations about the rate of inflation in the United States relative to the rest of the world c. U.S. tastes and preferences for foreign goods d. the interest rate in the United States relative to the rest of the world e. tastes and preferences of the rest of the world for U.S. goods and services