If an economy is operating on its production possibility frontier, which of the following statements is true?
A. Products are produced using inefficient production technology.
B. The capacity utilization rate is less than full production.
C. The economy's labor force is fully employed.
D. A fall in the price of an input will enable the economy to produce outside the production possibility frontier.
C. The economy's labor force is fully employed.
Economics
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The implementation lag for fiscal policy ________ it is for monetary policy
A) can be much longer than B) is generally much shorter than C) is usually the same as D) There is not an implementation lag for fiscal policy.
Economics
What is a household's real income?
What will be an ideal response?
Economics