Roundabout production occurs when
a. entrepreneurs hire others to work for them, rather than taking the time to produce things themselves
b. workers avoid intermediary entrepreneurs and cooperate to produce output themselves
c. inefficient technology is used
d. producers make capital goods instead of consumption goods
e. a company takes time to market shares in the company
D
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Based on the graph above, suppose the economy is at point 2, then output falls to 10 and there is a price shock of one percent. The inflation rate next period will be ________ percent
A) 5 B) 3.5 C) 4.5 D) 4 E) none of the above
Dumping occurs when, in a foreign market, a good is sold
A) below its cost of production or below the price in that market. B) at a discount below the list price. C) below its nominal price. D) at a price above the equilibrium price.