Assuming constant returns to scale, the equation, Y = A(t)F(K,N) can be rewritten as
a. Y/N = A(t)ƒ(K/N).
b. q = A(t)ƒ(k).
c. Y/N = A(t)ƒ(K ? N).
d. Both a and b
e. Both b and c
D
Economics
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Fiscal policy is impotent when the LM curve is
A) vertical. B) horizontal. C) downward-sloping. D) horizontal or downward-sloping.
Economics
The U.S. demand curve for foreign currency is drawn holding constant all except one of the following factors. Which is the exception?
a. income in the United States b. the inflation rate in the United States c. incomes in the rest of the world d. the interest rate in the United States relative to the rest of the world e. tastes and preferences of Americans for foreign goods
Economics