Output prices = flexible or inflexible Input prices = flexible or inflexible
What will be an ideal response?
flexible ; inflexible
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Suppose we have an economy in which G = 1100, t = 0.26, Y = 3800, and YN = 4000. At Y, the actual deficit is
A) 60. B) 200. C) 112. D) 286. E) -60.
Over the past 20 years, purchases of foreign financial assets by U.S. investors has
A) increased significantly. B) decreased significantly. C) remained fairly consistent. D) become negative.
Society might argue that there are cases in which it is appropriate to resist price increases in situations where scarcity is serious. Included would be the case of
A. unrestrained monopoly that would otherwise succeed in extracting funds from the public. B. taxes imposed on products capriciously and inappropriately. C. rising prices falling so heavily on the poor that rationing becomes preferable. D. All of the responses are correct.
Assuming that total factor productivity is constant, describe the effect of an increase in the capital-labor ratio on the per worker production function
What happens to the marginal product of labor, the marginal product of capital, and real GDP per capita?