According to the following graph, what is Y1?
The consumer's income is $1,200.
A. 110
B. 30
C. 80
D. 120
E. none of the above
Answer: D
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Decreases in the stock of capital will lead to
A) decreases in wages and GDP. B) increases in wages and total GDP. C) decreases in wages and increases in GDP. D) increases in wages and decreases in GDP.
The average total cost curve of a firm is U shaped but the average variable cost is not.
Answer the following statement true (T) or false (F)
Explain why the European Union's current combination of rapid capital migration with limited labor migration may actually raise the cost of adjusting to product market shocks without exchange rate change?
What will be an ideal response?