The relationship between the price level and the real Gross Domestic Product (GDP) without full adjustment or full information is represented by
A) the distance between the long-run aggregate supply curve and the short-run aggregate supply curve.
B) the short-run aggregate supply curve.
C) the long-run aggregate supply curve.
D) the aggregate demand curve.
B
You might also like to view...
Suppose Bank A holds $50,000 in deposits with other banks. In the balance sheet, this amount will be accounted as Bank A's:
A) cash equivalents. B) short-term borrowing. C) long-term investments. D) reserves.
Jane regularly sends funds to organizations seeking to save endangered animal species. This is an example of:
a. fairness. b. altruism. c. selfishness. d. self-interest.
If the total cost of producing 20 ceramic vases is $240, what is the average total cost of producing a single vase?
a. $240/20 = $12 b. $240 × 20 = $4,800 c. 20/$240 = $0.08 d. $240 – 20 = $220
Depletable resource prices change over time depending on
A. how the technology of resource extraction changes. B. the prices of publicly traded stock. C. the number of countries that have nationalized production. D. the prices of substitutable renewable resources.