The short and long run market supply curves:
A. are equivalent.
B. may differ because the set of firms that are able to produce in a market may change.
C. may differ due to barriers to entry in the long run.
D. do not intersect.
B. may differ because the set of firms that are able to produce in a market may change.
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President Bush lowered income taxes for individuals in 2001. Explain how lower income taxes affect the aggregate demand curve
What will be an ideal response?
Refer to Figure 9-2. With the tariff in place, the United States
A) imports 16 million pounds of rice. B) imports 15 million pounds of rice. C) imports 9 million pounds of rice. D) exports 31 million pounds of rice.
The Darby (1976) revisions of the 1930s unemployment data show that if you count public employment, then the 1930s were not especially severe by historical standards
Indicate whether the statement is true or false
Which of the following was the least prominent crop grown in the colonial U.S.?
a. Tobacco b. Sugar c. Wheat d. Rice