An isoquant is the locus of the different combinations of inputs that produce the same level of output
Indicate whether the statement is true or false
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In a country with floating exchange rates, the increase in the real income is the result of a(n) ________ in the money stock when capital mobility is ________
A) increase; high or low B) decrease; high or low C) increase; high D) decrease; low
An increase in the output gap causes the demand for real balances
A) to rise and the interest rate to fall. B) to fall and the interest rate to rise. C) and the interest rate to fall. D) and the interest rate to rise.
Persons who do not hold a job and are not actively seeking work are considered: a. out of the labor force
b. unemployable, and not counted in official statistics. c. underemployed. d. unemployed.
Suppose the market-equilibrium quantity of good x is 5,000 units and the socially-optimal quantity of good x is 4,000 units. Then
a. the production of good x imposes external costs on society. b. the private value of good x exceeds the private cost of good x when 5,000 units are produced. c. the private cost of good x exceeds the private value of good x when 5,000 units are produced. d. the social cost of good x exceeds the private value of good x when 4,000 units are produced.