Saving is an example of
A) a stock concept. B) a flow concept.
C) a depreciation concept. D) an investment concept.
B
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"If the marginal product of labor curve slopes downward, then the average product of labor curve necessarily must slope downward." Explain whether the previous statement is correct or incorrect?
What will be an ideal response?
The market clearing price for gasoline is $1.50, but the maximum price that can be charged is $1.29. This is an example of
a) a price control that will lead to a surplus of gasoline on the market. b) a price floor that will lead to a shortage of gasoline on the market. c) a price ceiling that will lead to a shortage of gasoline on the market. d) a price floor that will lead to a surplus of gasoline on the market.
If production displays economies of scale, the long-run average cost curve is
A) downward sloping. B) below the long-run marginal cost curve. C) upward sloping. D) above the short-run average total cost curve.
Explain why price and wage stickiness in the short run are reasons that macroeconomic shocks can result in fluctuations in total employment and total production
What will be an ideal response?