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

Author Question: Which of the following statements is true about the economy in the long run? a. Equilibrium output ... (Read 44 times)

fbq8i

  • Hero Member
  • *****
  • Posts: 527
on: Jun 30, 2018
Which of the following statements is true about the economy in the long run?
 a. Equilibrium output is below potential GDP and the rate of unemployment exceeds the natural rate.
  b. Production costs are close to zero in the long run.
  c. The rate of unemployment is zero in the long run.
  d. The aggregate demand curve plays no role in determining the equilibrium level of real GDP.
  e. The aggregate supply curve is a horizontal line.

Question 2

In Europe, birth rates have fallen as the stork population decreased. This is likely
 a. a normative statement.
 b. confusing correlation and causation.
  c. the fallacy of composition.
 d. all 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

tmlewis4706

  • Sr. Member
  • ****
  • Posts: 295
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


fbq8i

  • Member
  • Posts: 527
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Liddy

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

A 19-foot-long blue whale skull in the collections of the Smithsonian Museum of Natural History A 19-foot-long blue whale skull in the collections of the Smithsonian Museum of Natural History
Hydrostatic Equilibrium Hydrostatic Equilibrium
The Hippocampal Formation and Long-Term Potentiation The Hippocampal Formation and Long-Term Potentiation
Othmer’s Equilibrium Still Schematic Diagram Othmer’s Equilibrium Still Schematic Diagram
The features found in a long bone. The features found in a long bone.
How to convert verbal statements into algebraic equations (Part 4) How to convert verbal statements into algebraic equations (Part 4)
Video: Smoking Cessation

For a complete list of videos, visit our video library