Why is the labor used to retrieve an object in space considered more capital intensive than the labor used to pick up tree limbs from a yard?
a. It requires more workers.
b. It requires advanced technical machinery.
c. It takes longer to do.
d. It involves more than one company.
b. It requires advanced technical machinery.
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The Fisher effect
a. says the government can generate revenue by printing money. b. says there is a one for one adjustment of the nominal interest rate to the inflation rate. c. explains how higher money supply growth leads to higher inflation. d. explains how prices adjust to obtain equilibrium in the money market.
Rational expectations theorists believe that governments publicizing their economic goals ______.
a. is necessary to educate the people, so they behave as intended b. leads people to act in their own interests and undercut the government’s intended outcomes c. prevents people from being able to anticipate the future of the economy d. is the most important step in being able to meet the government’s goals
Graphically the intersection of the aggregate demand curve, the short-run and long-run aggregate supply curves determines:
A. the expansionary gap. B. long-run equilibrium. C. the recessionary gap D. short-run equilibrium.
When the average physical product is rising
A) total cost is falling. B) average total cost is increasing. C) average variable cost is falling. D) marginal cost is always rising.