_________ inflation can be explained by an _________ shift in the aggregate _________ curve
a. Demand-pull, rightward, demand
b. Cost-push, rightward, supply
c. Demand-pull, leftward supply
d. Cost-push, leftward, supply
a
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The simple model of competition among political parties long used by political scientists tends to lead to the practical solution of selecting the
A) optimal tariff. B) prohibitive tariff. C) zero (free-trade) tariff. D) the tariff rate favored by the median voter. E) the tariff rate supported by exporters.
The entry of firms into a perfectly competitive industry causes the supply curve to
a. increase its slope. b. decrease its slope. c. move toward the right. d. move toward the left.
If inflation is higher than expected, then lenders receive interest payments whose real values are less than they expected
a. True b. False Indicate whether the statement is true or false
In the graph below LRTC = long-run total cost. The firm is experiencing:
A. Economies of scale
B. Diseconomies of scale
C. Constant returns to scale
D. Minimum efficient scale