51. In the long run, output gaps are eliminated by:?

Question

51. In the long run, output gaps are eliminated by:

A. reducing potential output.

B. increasing potential output.

C. price changes.

D. increased efficiency in labor markets.

E. meeting demand.

52. In the short run ______ determines output and in the long run ____ determines output.

A. potential output; prices

B. potential output; total spending

C. total spending; potential output

D. total spending; prices

E. prices; total spending

53. Coca Cola's "smart" vending machine is designed to provide:

A. more flexible pricing of products.

B. a less expensive vending machine.

C. higher levels of output.

D. greater sensitivity to consumer complaints and concerns.

E. output at preset prices.

Answer 1

51. In the long run, output gaps are eliminated by:

-correct ans-

C. price changes.

52. In the short run ______ determines output and in the long run ____ determines output.

correct ans:-

C. total spending; potential output

53. Coca Cola's "smart" vending machine is designed to provide:

correct answer-

D. greater sensitivity to consumer complaints and concerns.

Answer 2

C. price changes.

C. total spending; potential output

A. more flexible pricing of products.