This topic contains a solution. Click here to go to the answer

Author Question: One factor that explains the short-run trade-off between inflation and unemployment is labor ... (Read 79 times)

vicotolentino

  • Hero Member
  • *****
  • Posts: 552
One factor that explains the short-run trade-off between inflation and unemployment is labor contracts that fix wages for an extended period of time.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the short run elasticity of demand for widgets is 0.4 and the long run elasticity of demand for widgets is 0.95, a decrease in price will ____ total revenue in the short run and ____ total revenue in the long run.
 a. Increase; increase.
 b. Increase; decrease.
  c. Decrease; increase.
  d. Decrease; decrease.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

juicepod

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

True

Answer to Question 2

d




vicotolentino

  • Member
  • Posts: 552
Reply 2 on: Jun 30, 2018
Excellent


Liamb2179

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

For a complete list of videos, visit our video library