The Keynesian macroeconomic model states that
A) changes in technology generate business cycles.
B) the economy is inherently unstable and government intervention is required to maintain continued economic growth.
C) fluctuations in the quantity of money are responsible for most economic recessions.
D) markets work efficiently to produce the best macroeconomic outcomes.
E) the economy is fairly stable.
B
Economics
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If all inputs are increased by 5 percent and output increases by 8 percent, then the
A) firm experiences constant returns to scale. B) long-run average cost curve slopes downward. C) long-run average cost curve shifts downward. D) firm experiences diseconomies of scale.
Economics
Average cost can be thought of as the cost per unit.
Answer the following statement true (T) or false (F)
Economics