1 answer

? as the system of property rights, patent laws, tas AAA toms and conventions of the...

Question:

? as the system of property rights, patent laws, tas AAA toms and conventions of the marketplace. The greater the er the tech
Complete the following table by matching each definition to the appropriate economic time frame. Definition Short Run Long Ru
? as the system of property rights, patent laws, tas AAA toms and conventions of the marketplace. The greater the er the technology and know-how, and the more effective the er the aggregate supply. Let's begin with the key resource-labor. mited Attempts COUNTS TOVARO GRADE The __measures a worker's earnings in today's dollars, or the amount on a worker's paycheck, while the measures the wage in constant dollars, or the purchasing power of the worker's earnings O a. real wage; living wage O b. living wage; real wage c. nominal wage; subsistence wage O d. nominal wage; real wage Submit Next
Complete the following table by matching each definition to the appropriate economic time frame. Definition Short Run Long Run A period of time long enough for all input prices and wages to be renegotiated A period of time in which some input prices and wages are fixed

Answers

a) "D"

Nominal wage represents the wages at the current price or todays dollar and real wage represents the wage in terms of purchasing power or base dollar.

b) A period long enough for all input and wages to be renegotiated will be the long run and a period of time in which some input prices and wages are fixed will be the short run.

.

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