The more complicated a production process is,
a. the lower the transactions cost of using markets
b. the lower the cost of production
c. the more likely the market will be used to organize production
d. the more likely that transaction costs decrease through centralized control of production
e. the more likely that transaction costs decrease through use of markets
D
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The Full Employment and Balanced Growth Act of 1978 is also called the Humphrey-Hawkins Act and requires the President to appear before Congress twice a year to present his forecast for the economy
Indicate whether the statement is true or false
An increase in resources, efficiency, or technology will shift the:
A) short-run aggregate supply curve rightward. B) short-run aggregate supply curve leftward. C) long-run aggregate supply curve rightward. D) long-run aggregate supply curve leftward.