An improvement in the technology used to produce goods would:
Answer: Enable an economy to produce outside its original production possibilities frontier
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If a firm in monopolistic competition is earning an economic profit,
A) it is in the long run. B) other firms can enter the market. C) it can do so because it is "monopolistic" and other firms will have a hard time competing with it. D) its average cost must exceed its marginal cost. E) The question errs because firms in monopolistic competition cannot earn an economic profit.
A decrease in the price level will lead to
A) a decrease in the real interest rate and an increase in net exports. B) an increase in the real interest rate and an increase in net exports. C) a decrease in the real interest rate and a decrease in net exports. D) an increase in the real interest rate and a decrease in net exports.
Why is there more than one definition of the money supply? What is the difference between them?
If = 4%, = 3%, and = 2%, then must equal:
What will be an ideal response?