The output of cell phones can be added to the output of refrigerators in order to compute GDP by:
A.) Multiplying the output of each by the corresponding prices and adding these dollar values.
B.) Dividing the output of each by price and adding these dollar values.
C.) Adding up the physical number of cell phones and refrigerators produced.
D.) Dividing dollar values of output for each by price and adding the results.
A.) Multiplying the output of each by the corresponding prices and adding these dollar values.
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First, write out the equation that represents the Taylor rule. Second, discuss how the Taylor rule is used to explain the implementation of monetary policy
What will be an ideal response?
The price elastic portion of the linear demand curve lies:
a. b and c. b. above the point of unit elasticity. c. anywhere to the left of current market prices. d. below the point where total revenue is maximized. e. at the intersection with the supply curve.