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algol13
3 years ago
12

The relationship between output and labor in a model holding capitalstock fixed is known as the:a. aggregate production function

.b. long run production function.c. short run production function.d. factors of production.e. effect of capital on the economy.
Business
1 answer:
kolezko [41]3 years ago
3 0

Answer:

The correct answer is option c.

Explanation:

A production function shows the relationship between the output produced and the inputs employed in the production process.

The short run production function shows the change in the output level when labor changes. In the short run labor is the variable factor, so output can be changed only by making changes in labor. The capital stock will be constant in the short run, so no changes can be made in it.

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Ellen Kelly Inc. had 31,300 shares of $.50 par common stock 10,000 shares of 5%, $20 par cumulative preferred stock and 5,000 sh
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10,000 common stock.

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4 0
3 years ago
Which of the following statements is correct?
Kamila [148]

Answer:

The correct answer is d. Different economic models employ different sets of assumptions.

Explanation:

To approach the study of economic reality it is necessary, in some way, to simplify it; keep certain variables under control. Precisely for this, it is that economic models are built.

Economic models are built on principles of departure, called "assumptions." Such assumptions fulfill the same role as the postulates in geometry. That is:

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  3. They function as premises in the logical structure to deduce the conclusions and correlations found in the lowest levels of generality.

We can say then, that the theoretical explanations refer to invisible "relationships", whose existence is proposed by the theory, and whose implications are logically deduced, and then corroborated by observations. They consist of:

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5 0
3 years ago
Individuals who want to work and have searched for work in the prior​ year, but are not currently looking for work because they
Makovka662 [10]

Answer:

Discouraged; are not

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Those workers who would like to have full-time job but are employed part-time are considered employed. These workers are included in the labor force.

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To learn more about DAW, click here.

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3 0
1 year ago
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