The supply curve has a
A) negative slope.
B) positive slope.
C) slope equal to -1.
D) undefined slope.
Answer: B
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
If markets are perfectly competitive, then the production of goods
A) will use the least costly combination of resources. B) will occur at an average total cost value that is above the minimum. C) will require government intervention. D) will always lead to business failures.
Over the long run, technological change increases both labor productivity and unemployment rates
a. True b. False Indicate whether the statement is true or false
The slope of an indifference curve represents the maximum amount of one commodity that a consumer is willing to give up in exchange for one more unit of another commodity
a. True b. False Indicate whether the statement is true or false