The three curves in the above figure are
A. (1) the short-run aggregate supply curve, (2) the aggregate demand curve, and (3) the long-run aggregate supply curve.
B. (1) the long-run aggregate supply curve, (2) the aggregate demand curve, and (3) the short-run aggregate supply curve.
C. (1) the aggregate supply curve, (2) the short-run aggregate demand curve, and (3) the long-run aggregate demand curve.
D. (1) the long-run aggregate supply curve, (2) the short-run aggregate supply curve, and (3) the aggregate demand curve.
Answer: A
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Moving along a short-run Phillips curve, a reduction in the unemployment rate is achieved by
A) reducing the size of the labor force. B) shifting the aggregate supply curve leftward. C) increasing potential GDP. D) running a federal budget deficit. E) increasing the inflation rate.
Which antitrust law prohibited firms from buying stock in competitors and from having directors serve on the boards of competing firms?
A) the Sherman Act B) the Robinson-Patman Act C) the Clayton Act D) the Securities and Exchange Act
Both short and long-run aggregate supply curves can shift to the right if entrepreneurial activities lower costs of production and expand what can be produced
a. True b. False Indicate whether the statement is true or false
Liquidity is the ease with which an asset can be converted into the economy’s medium of exchange.
Answer the following statement true (T) or false (F)