The part of the federal budget that has increased at the fastest rate is
A. government salaries.
B. entitlements.
C. interest payments.
D. national defense.
Answer: B
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An isoquant is a curve that shows all the combinations of two inputs that will produce the same level of output
Indicate whether the statement is true or false
Employing the error learning model to forecast sales, a firm where sales last period were expected to be $110 million, but actually sold $100 million would forecast that sales this period would be ________ if ________ is the coefficient of adjustment
. A) 103; 0.03 B) 105; 0.5 C) 110; 0.10 D) All of the above are correct.
A large aircraft manufacturer, like Boeing, may have a cost advantage over a new smaller manufacturer because
a. of diseconomies of scale. b. of economies of scale. c. of diminishing returns to a fixed factor of production. d. the principal agent problem is generally less severe for larger firms.
Refer to the diagram. Assume that nominal wages initially are set on the basis of the price level P 2 and that the economy initially is operating at its full-employment level of output Q f . In the short run, cost-push inflation could best be shown as:
A. a leftward shift of aggregate supply from AS 2 to AS 3 .
B. a move from b to c on AS 2 .
C. a move from b to c to d.
D. a move from b to f to d.