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1-If there is an inflationary gap, the market will transition to long run equilibrium by
A.an increase in SRAS caused by a decrease in the wage rate.
B.a decrease in SRAS caused by an increase in the wage rate.
C.a decrease in SRAS caused by a decrease in the wage rate.
D.an increase in SRAS caused by an inecrease in the wage rate.
2-If the price level rises and the money wage rate remains constant, the quantity of real GDP supplied ______ and there is a movement up along the ______ aggregate supply curve.
A.increases; short-run
B.does not change; long-run
C.does not change; short-run
D.decreases; long-run
Describe the innovation life cycle proposed by Abernathy and Utterback. Does the model provide a useful tool to guide and manage the innovation process? Do you see any weak points in the model?
If the manager of impact industries decides to produce 240 units, illustrate what will the long-run total cost also long-run average cost of producing 180 units.
when final sales are larger than gdpa. inventories did not changeb. a net increase in inventories took placec. a net
If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits. When economic profit is positive,
Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structure.
q. consider the following examples of economic activitiespurchasing of groceriesmassive layoff of employeesdecrease in
Suppose that your firm is the only producer of a high-tech sports utility vehicle for North American markets. Assume a constant marginal cost of $25,000 to produce each vehicle and no fixed costs of production.
Suppose that a certain country has an MPC of 0.9 and a real GDP of $500 billion. If its investment spending decreases by $12 billion, what will be its new level of real GDP?
Describe some of the changes in the "what, how, and for whom" to produce for questions that would occur if Boeing manufactured all its components to make its Dreamliner at its own factories in the United States.
q.assume an industry is composed of the following eight firms.company market sharefirm a 30 percent firm b 25 percent
Sketch the extensive form of the game, carefully labelling the players that move and the actions they have available
Find out the real interest rate of interest earned by Albert in each of the three years also his total real return over the three year period.
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