Answer:
The correct words for the blank spaces are: efficient; technological change.
Explanation:
The New Classical school of Economics was originated at the beginning of the 1970s having as its main characters to American economists Robert Lucas (born in 1937) and Edward Prescott (born in 1940). New classicals pay special attention to economic models based on individuals' behaviors, indicating they pursue to maximize their utility by making rational decisions.
When it comes to business cycles, they proposed fluctuations in the economy were boosted by unanticipated "<em>shocks</em>". <em>Changes in aggregate demand were the result of unexpected monetary or fiscal policies. Changes in aggregate supply were caused by </em><u><em>efficient</em></u><em> changes in productivity as a result of temporary changes in </em><u><em>technology</em></u><em>.</em>
Answer:
A. People coordinate their activities, resulting in equilibrium in the market.
Explanation:
Adam Smith - a proponent of Capitalist Economy 'Laissez Faire' i.e free markets proposed that :
Un-intervened (by govt) Markets guided by self interest create more wealth & over all socio economic welfare. Any disequilibrium will be sorted by undisturbed market forces, any government intervention is distortionary.
Answer: Producer price index
Explanation:
The producer price index is used to know the average differences in prices that are received by local producers for their output.
To calculate the producer price index, the current prices gotten by the sellers of a good or service is divided by the prices of the good or service using a base year and multiplying the result by 100. The producer price index is also a measure of inflation in an economy.
The difference between collaborative consumption firms is that ZILOK PROVIDES INVENTORY WHICH ARE PROVIDED BY PARTICIPATING CITIZEN SUPPLIERS WHILE CHEGG OWNS ITS OWN INVENTORY.
Collaborative consumption is an economy system of decentralized networks and market places which unlock the value of underused assets by matching consumers in a manner which bypass middlemen. It is also called sharing economy. Zilok and Chegg are examples of collaborative firms.