Elasticities are often _______ in the short run than in the long run.
a. higher
b. lower
c. equal
d. congruent
b. lower
Elasticities are often lower in the short run than in the long run.
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Deflation is a situation in which the:
A. prices of most goods and services are rising over time. B. quantity of goods and services produced is increasing over time. C. prices of most goods and services are falling over time. D. quantity of goods and services produced is decreasing over time.
The total consumption expenditure in Polonia during a certain year was $135,000, total expenditure on investment was $44,000 and total expenditure incurred by the government was $50,000
Polonia exported goods worth $10,000 during that year and imported goods and services worth $12,000. Calculate the gross national product of Polonia if foreign factors of production added a value of $14,000 in the production of goods and services in Polonia while Polonian workers living abroad added a value of $8,000 to the production process in those countries.
The exchange rate regime that is best for most nations
A) is unclear. B) is fixed exchange rates. C) is floating exchange rates. D) is a mixture of fixed and floating regimes.
Explain the relationships between the marginal product of labor and the demand for labor, and the marginal product of capital and the demand for capital
What will be an ideal response?