Production that uses large amounts of human effort rather than machinery is said to be ______.
a. labor inefficient
b. capital intensive
c. labor intensive
d. capital inefficient
c. labor intensive
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Suppose aggregate demand is increasing over time. Would the modern Keynesian model assume that the price level would always be constant? Explain
What will be an ideal response?
A period of economic expansion ends with a business cycle trough
Indicate whether the statement is true or false
Suppose there is an unexpected increase in real interest rates. Using the AD/AS model, describe the effects of this policy in the long run and the short run, assuming everything else equal
Refer to the information provided in Table 6.4 below to answer the question(s) that follow. Table 6.4Number ofDonuts per DayTotal UtilityMarginal Utility180?2150?3200?4230?5?10Number ofBurritos per DayTotal UtilityMarginal Utility160?2108?3144?4168?5?12Refer to Table 6.4. Diminishing marginal utility sets in after the ________ donut per day.
A. first B. second C. third D. fourth