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Author Question: Time lags occur when which of the following questions is asked? A) Where is the economy now? B) ... (Read 124 times)

lunatika

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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?


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Jayson

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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.


lunatika

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

irishcancer18

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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