A chain-weighted index recognizes the fact that the composition of output changes over time
a. True
b. False
Indicate whether the statement is true or false
True
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If workers and firms lower their inflation expectations,
A) unemployment will rise. B) the short-run Phillips curve will shift downward. C) the short-run Phillips curve will be vertical. D) actual inflation will fall to match expected inflation.
Suppose a firm's short-run production function is given by Q = 3?L, where L represents the number of hours of labor employed. The firm has a sunk cost of $500 and the wage rate is $18 per hour. What is the firm's short-run cost function?
What will be an ideal response?
Any change in the economy that raises desired national saving for a given value of the real interest rate will shift the desired national saving curve to
A. the right and decrease the real interest rate. B. the left and decrease the real interest rate. C. the left and increase the real interest rate. D. the right and increase the real interest rate.
The Sherman Antitrust Act of 1890
A. banned price discrimination. B. made tying contracts illegal. C. limited mergers that would substantially lessen competition or tend to create a monopoly. D. made illegal every conspiracy in restraint of trade or commerce among the several states.