Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; higher
C. lower; higher
D. higher; potential
Answer: D
Economics
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If two goods are ________, then an increase in the price of one leads to ________ in the quantity demanded of the other
A) complements; a decrease B) complements; no change C) substitutes; a decrease D) substitutes; no change E) normal; an increase
Economics
The short run is
A) a period of time during which at least one input cannot be changed. B) a period of time during which no inputs can be changed. C) a period of time during which all inputs can be changed. D) a period of time shorter than one year.
Economics