This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose that Year 2 is the base year. The CPI for Year 1 is approximately A) 80.0. B) 90.0. C) ... (Read 72 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
on: Jun 30, 2018
Suppose that Year 2 is the base year. The CPI for Year 1 is approximately
 
  A) 80.0.
  B) 90.0.
  C) 100.0.
  D) 120.0.

Question 2

Equilibrium market prices for capital and labor are 10 and 8, respectively. Then, the economy experiences one or more supply shocks, so that the marginal product of capital is 12, and the marginal product of labor is 9.
 
  Assuming that the available quantities of capital and labor are fixed, which of the following is (are) likely to decrease as the economy approaches its new equilibrium? A) real rental price of capital
  B) total output
  C) economic profits
  D) the quantity of capital in use
  E) none of the above


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Briannahope

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

C


Beheh

  • Member
  • Posts: 520
Reply 2 on: Jun 30, 2018
Excellent

upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Infant: 4 weeks to 1 year. Infant: 4 weeks to 1 year.
Versatility of the pyridoxal phosphate Schiff base (aldimine) in amino acid reactions Versatility of the pyridoxal phosphate Schiff base (aldimine) in amino acid reactions
Acid–Base Balance Acid–Base Balance
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Third-Base Wobble Pairing between Codon and Anticodon Nucleotides Third-Base Wobble Pairing between Codon and Anticodon Nucleotides
Video: Neuron Structure Animation

For a complete list of videos, visit our video library