The aggregate production function for real business cycle models is shown as
a. yt = F(Kt, Nt).
b. yt = ztF(Kt - Nt).
c. yt = ztF(Kt, Nt).
d. yt = zt/(Kt, Nt).
C
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The Fed buys $20,000 of government securities. The desired reserve ratio is 5 percent and the currency drain ratio is zero. What will be the change in the quantity of money?
A) $400,000 B) $20,000 C) $19,000 D) $5,000 E) $399,980
For given input prices, isocosts closer to the origin are associated with:
A. lower costs. B. higher costs. C. initially lower, then higher costs. D. the same costs.
Excess reserves in a bank are the difference between required reserves and the bank's total net worth.
Answer the following statement true (T) or false (F)
If the value of the Gini coefficient increased between any two-year period of time, this means that income inequality __________ between these two years.
a. decreased
b. increased
c. stay the same