This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose that Year 2 is the base year. The CPI for Year 1 is approximately A) 80.0. B) 90.0. C) ... (Read 31 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
on: Jun 30, 2018
Suppose that Year 2 is the base year. The CPI for Year 1 is approximately
 
  A) 80.0.
  B) 90.0.
  C) 100.0.
  D) 120.0.

Question 2

Equilibrium market prices for capital and labor are 10 and 8, respectively. Then, the economy experiences one or more supply shocks, so that the marginal product of capital is 12, and the marginal product of labor is 9.
 
  Assuming that the available quantities of capital and labor are fixed, which of the following is (are) likely to decrease as the economy approaches its new equilibrium? A) real rental price of capital
  B) total output
  C) economic profits
  D) the quantity of capital in use
  E) none 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

Briannahope

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

C


Beheh

  • Member
  • Posts: 520
Reply 2 on: Jun 30, 2018
:D TYSM

sultana.d

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

This chart illustrates the “drip down” model of government. In this, politics is formed by the soc This chart illustrates the “drip down” model of government. In this, politics is formed by the soc
Base Levels Base Levels
Acid–Base Balance Acid–Base Balance
Acid–Base Balance Acid–Base Balance
Kahan (Last Year) Kahan (Last Year)
Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ... Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ...
Video: What are Strong & Weak Acids and How they're different?

For a complete list of videos, visit our video library