Abstract economic theory can be used by academicians, but not by politicians or business people
a. True
b. False
Indicate whether the statement is true or false
False
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The short-run effect of an increase in the supply of money is
A) an increase in the price level, a decrease in real Gross Domestic Product (GDP), but an increase in nominal national income. B) an increase in the price level but not in real Gross Domestic Product (GDP). C) an increase in both real Gross Domestic Product (GDP) and the price level. D) an increase in real Gross Domestic Product (GDP) but not in the price level.
Refer to Table 23-1. Using the table above, compute aggregate expenditure and identify the macroeconomic equilibrium
What will be an ideal response?
Which of the following would be considered a contingent? contract?
A) a piece rate contract B) a profit-sharing contract C) a contact with a bonus D) All of the above.
When a firm's only variable input is labor, then the slope of the production function measures the
a. quantity of labor. b. quantity of output. c. total cost. d. marginal product of labor.