Many economists from both the Keynesian and neoclassical schools have found that the policies implemented to stabilize the economy and financial markets during the Great Recession:
a. were totally ineffective
b. made the Great Recession worse.
c. were effective, although to varying degrees.
d. were totally effective.
c. were effective, although to varying degrees.
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Suppose that an Intel worker rearranges existing machines and labor and increases the quantity of chips Intel can produce. Using the productivity curve graphed, this innovation would be described as
A) a movement upward along the curve. B) a movement downward along the curve. C) a shift of the curve upward. D) a shift of the curve downward. E) no change to the productivity curve.
As prices change, the elasticity of supply describes the movement
A) of a shift in the supply curve. B) of the equilibrium price. C) along the supply curve. D) from a necessity to a luxury good.