Answer the following questions true (T) or false (F)
1. New Keynesian macroeconomic theory emphasizes the role of "sticky" prices in the economy.
2. Centrally planned economies tend to grow more quickly than market economies.
3. Accumulating a greater number of inputs will ensure that an economy will experience economic growth.
1. TRUE
2. FALSE
3. FALSE
Economics
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Which of the following would be the best example of a final good or service?
A. a machine that GM purchased to build cars B. flour used to make pizza C. jet fuel used by United Airlines in one of its airliners D. a meal that a family makes for itself
Economics
The change in total output that results from one additional unit of input is the:
a) Marginal physical product. b) Input price. c) Average product of the input. d) Unit cost of the input.
Economics