« previous next »

Author Question: Describe the relationship demonstrated by a production function. What will be an ideal ... (Read 45 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?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

An example of modification of a structure for a new function An example of modification of a structure for a new function
How to use L'Hospital's Rule to find the limit of a function (Part 2) How to use L'Hospital's Rule to find the limit of a function (Part 2)
How to vertically shift a sinusoidal function (y=a*sin⁡b(x−c)+d) How to vertically shift a sinusoidal function (y=a*sin⁡b(x−c)+d)
The Production of Cytotoxic T-lymphocytes (CTLs) The Production of Cytotoxic T-lymphocytes (CTLs)
Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ... Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ...
Determination of the genotype of F2 plants by the production of F3 progeny Determination of the genotype of F2 plants by the production of F3 progeny
Video: Polymerase chain reaction PCR - Animation

For a complete list of videos, visit our video library