The Cobb-Douglas production function is:
A. Q = aK + bL.
B. Q = min{bK, cL}.
C. Q = KaLb.
D. Q = max{bK, cL}.
Answer: C
Economics
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Answer the following statement true (T) or false (F)
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Explain how the wealth effect can affect aggregate demand
What will be an ideal response?
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Refer to the scenario above. The market for Good A in Eduland is an example of a ________
A) monopoly B) duopoly C) monopolistic competition D) perfect competition
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When the actions of a central bank induce actions from other banks in the country
A) the other banks are reacting to an announcement effect. B) the other banks are concerned about a penalty rate. C) the other banks are acting to prevent liquidity problems. D) the other banks are acting as fiscal agents.
Economics