Many countries in the Far East, such as South Korea and Tawin have experience decades of repaid economic growth following by lower economic growth recent year. The phenomenon is known as
A. The catch-up-effect
B. The exploitation effect (WA)
C. The Asian effect
D. The supper growth effect
E. The over investment effect.
A. The catch-up-effect
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Explain how the static aggregate demand and aggregate supply model gives us misleading results about the price level, particularly with respect to decreases in aggregate demand
Describe how the aggregate demand curve is different in the dynamic model as compared to the static model. Describe how potential GDP is different in the dynamic model as compared to the static model.
If products similar to the intermediate good can be bought externally, an approximation of the correct transfer price is
a. average costs b. average fixed costs c. average variable costs d. the market price
According to the graph shown, if the government decides to increase taxes, it is most likely at equilibrium:
A. A
B. B
C. C
D. D
The change in total output when one additional unit of labor is hired is known as the
a. capacity utilization rate b. average product of labor c. marginal product of labor d. total product of labor e. marginal output of labor