Given the labor force, either more capital or better technology will shift the production function downward
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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In the above figure, if the economy is at equilibrium at E1, the Fed would most likely
A) attempt to lower the aggregate demand in the economy. B) attempt to lower the price level below 120. C) adopt an expansionary monetary policy. D) adopt a contractionary monetary policy.
Economics
If the price index is now 120, it means:
a. prices are 120 percent higher than in the base year. b. prices are 20 percent higher than in the base year. c. prices are 1.2 percent higher than in the base year. d. nominal GDP will be less than real GDP.
Economics