hat is the relationship between the output gap and the cyclical unemployment? Usually, when one goes up, the other goes _____. and when one is positive, the other is ____. A. up; positive B. down; positive C. up; negat

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Q: 1. Consider the following production function: Y=F(K, L) = A(2K + 3L) Does this production function…

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A: Elasticity is the responsiveness in one variable due to change in another variable.