A movement from point N to point L would represent
A. an increase in both consumer goods and capital goods.
B. a decrease in both consumer goods and capital goods.
C. an increase in consumer goods, but a decrease in capital goods.
D. an increase in capital goods, but a decrease in consumer goods.
C. an increase in consumer goods, but a decrease in capital goods.
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Which of the following is a feature of experiments?
A) Experiments are restricted to laboratories. B) Experiments are carried out only in the study of economics. C) Experiments help determine cause and effect between variables. D) Experiments require the division of participants into a treatment group and a test group.
In the above table, which technique is technologically inefficient?
A) Technique W B) Technique X C) Technique Y D) Technique Z
Figure 10-8
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In the long run, the perfectly competitive firm in Figure 10-8 will leave the industry if the price falls below
A. $10. B. $9. C. $5. D. $2.
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.