Which of the following statements identifies a similarity between optimization in levels and optimization in differences?
A) Both techniques consider only the costs of different alternatives.
B) Both techniques consider only the total benefits of different alternatives.
C) Both techniques evaluate the total net benefit of different alternatives to arrive at a decision.
D) Both techniques require the conversion of all costs and benefits into a common unit of measurement.
D
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A business cycle
a. is ups and downs in the level of economic activity over time b. is irregular and unpredictable c. has existed since recorded history d. all
When drawn against the real interest rate, the output demand curve shifts to the right when
A) current total factor productivity z increases. B) current total factor productivity z decreases. C) future total factor productivity z' increases. D) future total factor productivity z' decreases.