Author Question: Time lags occur when which of the following questions is asked? A) Where is the economy now? B) ... (Read 149 times)

lunatika · **on:** Jun 29, 2018

Time lags occur when which of the following questions is asked?

A) Where is the economy now?
B) Where is the economy going?
C) How long will it take for a correct policy to be implemented?
D) All of the above.
E) None of the above.

Question 2

What are the key functions of the equilibrium price in a perfectly competitive market?

What will be an ideal response?

Jayson · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

D

Answer to Question 2

There are three key functions of equilibrium price in a perfectly competitive market. They are:
a) The equilibrium price efficiently allocates scarce resources to market participants.
b) The equilibrium price efficiently allocates the production of goods within an industry.
c) The equilibrium price efficiently allocates scarce resources across industries.