The real business cycle theory places little emphasis on shocks to technology.
Answer the following statement true (T) or false (F)
False
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Cross-price elasticity of demand is calculated as the
A) percentage change in quantity sold divided by percentage change in buyers' incomes. B) percentage change in quantity supplied divided by percentage change in price of a good. C) percentage change in quantity demanded of one good divided by percentage change in price of a different good. D) percentage change in quantity demanded divided by percentage change in price of a good.
Which of the following terms describes how a good is produced in stages?
a. supply chain b. value chain c. supply trade d. value trade
Figure 9.1 shows the cost structure of a firm in a perfectly competitive market. If the market price is $40 and the firm is currently producing the profit maximizing output level, its total variable cost is:
A. $12,500. B. $14,300. C. $19,800. D. $27,000.
Based on the information in the above table, what is the unemployment rate?
What will be an ideal response?