24. long-run growth in real gdp is determined primarily by while short-run movements in real gdp are associated with a. variations in labor-market utilization; technological progress b. technological progress; variations in labor-market utilization c. money supply growth rates; changes in velocity d. changes in velocity; money supply growth rates

The correct answer is option b.

Explanation:

Technological progress refers to the technological advances or innovations through which it is possible to produce more output using the same level of input or produce same level of output using lesser inputs.

Real GDP measures the change in economic output at constant prices.

In the long run real GDP will not be affected by change in market prices. The long run growth happens because of technological progress.

In the short run the changes in real GDP will happen because of variations in labor market utilization.

Since real GDP is measured on constant prices, it will increase when there is an increase in economic output. Output can be increased by employing more inputs.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

the answer is a. $209,000