In the long run, if inputs are increased by 10 percent and output increases by 20 percent, then __________ are said to exist.

1 answer:

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In the long run, if inputs are increased by 10 percent and output increases by 20 percent, then diseconomies of scale are said to exist. It is because diseconomies of scale is likely to happen in the long run for a business with increasing inputs without decreasing the cost of production. It can happen when the increase in production is dependent on one part that needs to be completed but there is a delay on producing the parts. Another reason is that the cost of shipping may increase base on how far will be the distance and the weight of the product.

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The correct answer is c. Derived demand .

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Complete the right half of the following equation to reflect the unemployment rate reported by the BLS.

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c. 66.67%

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The natural rate of unemployment:_______. a. means that the economy will always operate at that rate. b. is equal to the total o

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B. is equal to the total of frictional and structural unemployment.

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The natural rate of unemployment is the sum of frictional and structural unemployment at any given time. Economists estimate that for the United States this rate is around 3.5%.

Unemployment has a natural rate because no matter how good the economy is doing, some people either do not want to work, are in between jobs (frictional unemployemt), or lack the skills necessary to get employed and need to undergo training (structural unemployment).

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