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Does inflation and
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- What happens to employment in a competitive firm that experiences a technology shock such that at every level of employment its output is 200 units per hour greater than be fore?The main difference between the short run and the long run is that firms earn zero profits in the long run the long run always refers to a time period of one year or longer in the short run, some inputs are fixed in the long run, all inputs are fixed 2 A recession is a decline in the inflation rate that lasts six months or longer the unemployment rate that lasts six months or longer real GDP that lasts six months or longer potential GDP that lasts six months or longerEntrepreneurs absorb the risk of starting and running a company. Is Kennedy right about allowing employers to set the wage and not the employee? Explain your answer.
- What type of economic viewpoint puts an emphasis on long run economic performance? Phillips O Keynesian O Financial O NeoclassicalWhat causes costs of production to vary with output in the short run? What generally causes costs of production to vary in the long run?What are ways that change can be managed to reduce the level of anxiety experienced by organizational participants? are there times when uncertainty and anxiety about change might be a good thing ?
