In a perfectly competitive market, technological advances bring ________ economic profits for producers and ________ lower prices for consumers
A) permanent; permanently
B) permanent; temporarily
C) temporary; permanently
D) temporary; temporarily
C
Economics
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What is the effect on real GDP per person if labor productivity increases?
What will be an ideal response?
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With fixed exchange rates, perfect asset substitutability, and perfect capital mobility
A) the LM curve is horizontal. B) the LM curve is vertical. C) the BP curve is horizontal. D) the BP curve is vertical.
Economics