In the one-period competitive model we have been studying,
A) both consumption and total factor productivity are exogenous.
B) consumption is exogenous and total factor productivity is endogenous.
C) consumption is endogenous and total factor productivity is exogenous.
D) both consumption and total factor productivity are endogenous.
E) consumption and taxes are exogenous.
Correct Answer:
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Q1: The production possibilities frontier in the one-period
Q2: An example of a public good is
A)
Q3: In the production function,output is given by
A)
Q4: An economy that engages in international trade
Q6: Points on the production possibilities frontier have
Q7: A competitive equilibrium is a state of
Q8: In a one-period model,government is likely to
Q9: An economy that has no interaction with
Q10: In an economic model,an exogenous variable is
A)
Q11: A relationship that shows the technological possibilities
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