Let Kj and Lj denote the capital and labor inputs in the production of good j (j = S,T), then good S is said to be capital intensive relative to good T if

Which of these is NOT one of the issues that makes it difficult for the Fed to choose the right course of action at the right time?

A. The Fed's incomplete and imperfect control of the money supply B. The quality of the data the Fed uses C. The time that it takes for the Fed to decide on a course of action D. The time it takes for Fed action to have an impact

A hyperinflation occurs when

A) inflation persists for more than two years. B) inflation persists for more than five years. C) the inflation rate exceeds 50% per year. D) the inflation rate exceeds 50% per month