« previous next »

Author Question: Describe the relationship demonstrated by a production function. What will be an ideal ... (Read 21 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
Describe the relationship demonstrated by a production function.
 
  What will be an ideal response?

Question 2

Refer to the above figure. An increase in aggregate demand between real Gross Domestic Product (GDP) levels Y0 and Y1
 
  A) would not increase output since the economy is already working at full capacity.
  B) would have no effect on the price level.
  C) would cause price levels to fall.
  D) would most likely result in some inflation.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


jjorrostieta

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: Jun 30, 2018
Answer to Question 1

The production function shows the relationship between the level of output of a good and the factors of production that are inputs to production.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Leaf structure and its relationship to the C4 cycle Leaf structure and its relationship to the C4 cycle
The metabolic pathway that breaks down phenylalanine and its relationship to certain genetic disease The metabolic pathway that breaks down phenylalanine and its relationship to certain genetic disease
Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production
How to write a sine function when given the amplitude, period, and phase shift How to write a sine function when given the amplitude, period, and phase shift
How to perform the concavity test and second derivative test for a function (Part 2) How to perform the concavity test and second derivative test for a function (Part 2)
Differentiation of Inverse Trigonometric Function Differentiation of Inverse Trigonometric Function
Video: Morphology of a tomato plant

For a complete list of videos, visit our video library