Question 56 1 pts The production function shows the technological relationship between the prices of inputs and the price of output. the price of the good and the quantity supplied. the quantity of inputs employed and the quantity of output produced. the amount of output produced and the cost of producing it. Question 1 pts The term "stagflation" refers to which of the following combinations? rising output and rising prices rising output and falling prices loooo falling output and falling prices falling output and rising prices Question 52 1 pts The "separation of ownership and control" refers to the fact that many firms have head offices in one state and production facilities in other states. the owners of a firm have limited liability but the managers do not. some persons in the firm have more decision-making ability than others: for example, the president has more authority than any vice-president. the shareholders in a corporation are different people from the managers who run the firm on a day-to-day basis, which may allow the managers to persue their own goals at the expense of the shareholders. Question 53 1 pts The Fisher Effect says that if the inflation rate rises, which of the following would happen? The real interest rate will increase by the amount that the inflation rate rises. The real interest rate will decrease by the amount that the inflation rate rises. The nominal interest rate will increase by the amount that the inflation rate rises. loo The nominal interest rate will decrease by the amount that the inflation rises