The long-run aggregate supply curve is influenced by:
A) resources available.
B) efficiency levels.
C) level of technology.
D) all of the above.
D
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According to the New Classical theory, why may output differ from its full-employment level in the short run?
What will be an ideal response?
In a game of bargaining, the player who is willing to:
A. be cooperative has more bargaining power and so receives a worse payoff. B. hold out longer has more bargaining power and so receives a worse payoff. C. hold out longer has more bargaining power and so receives a better payoff. D. make the first move has more bargaining power and so receives a better payoff.
The aggregate supply curves show how much a nation's businesses are willing and able to produce at each price level
a. True b. False Indicate whether the statement is true or false
The way in which a country benefits from trade is that it can
a. obtain goods at lower opportunity cost than producing them itself. b. exploit economies of scale in production and lower the cost of goods it produces. c. obtain a wider range of goods than it can produce for itself. d. All of the above are benefits.