Examlex
Suppose the economy is initially in long-run equilibrium.For each of the shocks listed below,explain the long-run effects on output and the price level.
a.Labour supply decreases.
b.Productivity increases.
Polygenic
Referring to a trait or characteristic that is influenced by multiple genes rather than a single gene.
Monogenic Inheritance
A hereditary pattern where a trait is determined by a single gene.
Correlation And Causation
The relationship between two variables where one variable is found to be related to the other, but this does not necessarily indicate that one causes the other.
Richard Herrnstein
An American psychologist known for his work on intelligence and crime as well as the controversial book "The Bell Curve," co-authored with Charles Murray.
Q16: Industries that are extremely sensitive to the
Q22: Milton Friedman would eliminate the destabilizing effect
Q43: You are likely to think that the
Q51: An introduction of ATMs (automatic teller machines),other
Q56: Which of the following types of money
Q56: How would each of the following changes
Q57: Which of the following activities is less
Q58: What are the two main components of
Q70: A classical economy is described by the
Q92: An adverse supply shock would directly _