A country producing a combination of 5 units of guns and 6 units of butter would be _________________ (outside/on/inside) the production possibilities curve.
inside
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The financial market shock which occurred during the recession of 2007-2009 increased the default-risk premium, and the housing shock which occurred during the recession of 2007-2009 reduced wealth and residential construction
These two events would result in A) a movement up along the Phillips curve. B) a movement down along the Phillips curve. C) an upward shift of the Phillips curve. D) a downward shift of the Phillips curve.
Variable costs:
A. do not vary with output. B. are positive even when a firm produces no output. C. change as output changes. D. exist only in the short run.
Explain how firms use elasticity and revenue to make decisions
What will be an ideal response?
“The size of government is too big.” Evaluate this statement
Please provide the best answer for the statement.