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 61 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
Wow, this really help

momolu

  • Member
  • Posts: 320
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

The human body produces and destroys 15 million blood cells every second.

This Black-browed Albatross has been hooked on a long-line. This Black-browed Albatross has been hooked on a long-line.
The energy input and output of glycolysis. The energy input and output of glycolysis.
The features found in a long bone. The features found in a long bone.
Migration and Global Economy Migration and Global Economy
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Rapid, long-distance signaling in plants Rapid, long-distance signaling in plants
Video: Cerebral Cortex Animation

For a complete list of videos, visit our video library