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If rice production is land intensive and computer production is labor intensive, though both good require some land and labor, the two-good production possibilities frontier will change in which of the following ways given an increase in available labor? a. The curve will shift outward evenly. b. The curve will shift outward but biased toward rice. c. The curve will shift outward but biased toward computers. d. The curve will shift inward with a bias toward rice. Please give a brief explanation on your answer.
State the term- - GDP is a flow Lastly, note that GDP is a flow variable and not a stock variable. By a flow variable we mean a variable which is measured in something per uni
what does phillip curve signify? how do you reconcile the difference in the shap of the curve in the short run and the long run?
Which of the following will decrease the nominal deficit? A. An increase in taxes. B. An increase in the debt. C. An increase in government expenditures. D. An increase in interest
Do you agee or disagree " Economic theory helps society reach economic goals that it has selected for itself?" Justify your answer.
Using a short-run Phillips Curve, illustrate the change in inflation and unemployment resulting from the increase in profit expectations.
The questions posed are broad and open ended so be careful to allow yourself enough research and planning time. If you are completely on top of the material delivered in class, the
why is credit multiplier lower than money multiplier
determination of interest rate in classical model
Q. Important points about the classic model? The most important points about the classic model are as following: Monetary and fiscal policy can't affect the GDP or unem
Those economists who believe that monetary policy is more potent than fiscal policy argue that the: A) Responsiveness of money demand to the interest rate is large. B) Responsive
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