0
Rate this Study Guide:
☆☆☆☆☆A market supply schedule is a chart that list how much of a good all suppliers will offer at different prices.
business cycles
Yes, but the exact way you would count that money depends on the method of GDP calculation that you use.
1) Perfectly elastic supply
2) Relative elastic supply
3) Unitary elastic supply
4) Relatively in elastic supply
5) Perfectly in elastic supply
Technological advancement can be seen as progress within society. For example, people living better is progress. Another way you can see technological advancement is through the use of advanced devices.
At that rate, each baker is baking 1 cake per hour. So the 12 bakers then can make 12 cakes.
25 percent
lowering the costs of production of a good (novanet)
School Buss Pass
It lowers cost and increases supply.
Because it can hire workers quickly if the price rises.
nonmarket activities, underground economy, negative externalities, and quality of life
Savings rate (novanet)
GDP
Check Clearing
A recession
Because more capital is available for investment, leading to higher output through capital deepening
real GDP
nominal GDP
A worker’s truck breaks down more often after 80,000 miles of driving.
