« previous next »

Author Question: In the long-run, if the economy is operating at the full employment level, the equilibrium level of ... (Read 108 times)

a0266361136

  • Hero Member
  • *****
  • Posts: 538
on: Jun 30, 2018
In the long-run, if the economy is operating at the full employment level, the equilibrium level of real GDP is determined solely by the:
 a. level of unemployment in the economy.
  b. rate of inflation in the economy.
  c. real interest rate in the economy.
  d. aggregate supply curve of the economy.
  e. aggregate demand curve of the economy.

Question 2

Which of the following best illustrates the fallacy of composition?
 a. If I stand up at a baseball game I will be able to see the game better; if all fans stood up at a baseball game they would all be able to see the game better.
  b. If I wore a jacket to a baseball game in October, I would be warmer; if all fans wore jackets they would all be warmer.
  c. If I purchase fewer concessions at a baseball game, I will save money; if all fans purchase fewer concessions then all can save money.
  d. If I yell more during a baseball game it will be louder if all fans yell more during the game it will be much louder.


ecabral0

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

The roles of transpiration, cohesion, adhesion, and tension in long-distance water transport. The roles of transpiration, cohesion, adhesion, and tension in long-distance water transport.
(a) Yucca baccata in full flower; (b) a Yucca moth, Tegeticula planella, ovipositing on a Yucca flow (a) Yucca baccata in full flower; (b) a Yucca moth, Tegeticula planella, ovipositing on a Yucca flow
"a) To begin push-hands exercise, touch hands. b) Then lean into each other with your full ... "a) To begin push-hands exercise, touch hands. b) Then lean into each other with your full ...
Apply the substance to the arm with long, smooth strokes, then cover the arm and abdomen with the ... Apply the substance to the arm with long, smooth strokes, then cover the arm and abdomen with the ...
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
Video: Exercise and cardiac output

For a complete list of videos, visit our video library