What does the productivity of an input measure?
What will be an ideal response?
The productivity of an input measures the amount of output produced per unit of that input.
Economics
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Why is the Chairman of the Federal Reserve often referred to as the "second most powerful person in the United States?"
Economics
According to the equation of exchange, if GDP equals $4 trillion and the money supply equals $1 trillion, the velocity of money
A) must be 0.25. B) must be 4. C) must be 0.25 trillion. D) must be 4 trillion. E) cannot be determined without knowing what the price level is.
Economics