Which of the following is true of resources?
a. Resources are inputs used to produce goods and services.
b. Labor is the mental and physical capacity of workers to produce goods and services.
c. Entrepreneurship organizes resources to produce goods and services.
d. All of these are true.
d
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Along a given ________ Phillips curve, a lower unemployment rate can be achieved only by paying the cost of a ________ inflation rate, and a lower inflation rate can be achieved only by paying the cost of a ________ unemployment rate
A) long-run; higher; lower B) short-run; higher; lower C) long-run; higher; higher D) short-run; lower; higher E) short-run; higher; higher
An increase in disposable income ________
A) has no effect on the supply of loanable funds curve B) shifts the supply of loanable funds curve rightward C) shifts the supply of loanable funds curve leftward D) results in movement up the supply of loanable funds curve
International financial flows changed in meaningful ways, and these changes were brought to the attention of policy makers by the Asian financial crisis. Describe three changes
What will be an ideal response?
Which of these changes is likely to be witnessed by a monopolistically competitive firm in the long run if it incurs a loss in the short run? a. The demand curve faced by it will become horizontal. b. The market price of its product will increase
c. Its average cost of production will decrease. d. Its marginal cost of production will decrease.