Input demand is derived demand in the sense that it is dependent upon the productivity of the input.
Answer the following statement true (T) or false (F)
False
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Refer to the above figure. Assume that B is the current long-run aggregate supply (LRAS) curve and E is the current short-run aggregate supply (SRAS) curve
If a 90-day embargo of oil from the Middle East to the United States were announced, and if after that 90-day period oil prices were expected to return to normal pre-embargo prices, then you would expect A) the LRAS and the SRAS to remain at B and E, respectively. B) the LRAS to remain at B, but the SRAS to shift to D. C) the LRAS to remain at B, but the SRAS to shift to F. D) the LRAS to shift to C, and the SRAS to shift to F.
Define "autonomous consumption spending."
What will be an ideal response?
Given the equations for C, I, G, and NX below, what is the marginal propensity to consume?
C = 1,000 + 0.8Y I = 1,500 G =1,250 NX = 100 A) 0.2 B) 0.8 C) 1.8 D) 10
Reaching and enforcing an agreement between members of a cartel becomes more difficult as the size of the group __________
Fill in the blank(s) with correct word