According to the misperceptions theory, when the price level falls below the expected price level
A) the economy's SRAS curve shifts up.
B) the economy moves along its AD curve.
C) the economy moves along its LRAS curve.
D) the economy moves along its SRAS curve.
D
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The argument that consumers will not be willing to pay any more for two items sold as one than they would for the two items sold separately is used to justify the legality of which of the following?
a. resale price maintenance b. tying c. predatory pricing d. free-riding
When the government controls the price of a product, causing the market price to be above the free market equilibrium price,
A. some, but not all, sellers can find buyers for their goods. B. only consumers gain. C. both producers and consumers gain. D. all producers gain.
A relatively mild period of falling incomes and rising unemployment is called a(n)
a. depression. b. recession. c. expansion. d. business cycle.
The National Income and Product Accounts (NIPA) for the U.S. are compiled by the:
A. National Bureau of Economic Research B. Bureau of Economic Analysis C. National Census Bureau D. Council of Economic Advisers