Technological change has played a major role in increasing competition in recent years
a. True
b. False
A
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Discuss the effects of ongoing inflation based on the PPP theory
What will be an ideal response?
If the price of automobiles were to increase substantially, the demand curve for automobiles would most likely
A) shift rightward. B) shift leftward. C) remain unchanged. D) become steeper.
If a dollar spent on capital yields less marginal revenue product than labor, the profit of the firm is reduced if it hires less capital than labor
a. True b. False Indicate whether the statement is true or false
Since 1959, the U.S. has experienced severe recessions in which three periods?
a. 1964-65, 1981-82, and 1990-91 b. 1974-75, 1981-82, and 2008-09 c. 1960-61, 1974-75, and 2008-09 d. 1960-61, 1981-82, and 2008-09 e. 1969-70, 1981-82, and 2008-09