If persistent inflation was due to declines in long-run aggregate supply, what pattern would be observed?
A) Only prices of services would increase; prices of goods would remain constant.
B) Increases in the price level would occur simultaneously with increases in real GDP.
C) Increases in the price level would occur simultaneously with decreases in real GDP.
D) Only prices of goods would increase; prices of services would remain constant.
C
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The largest share of the U.S. private economy is
A) in manufacturing. B) competitive or monopolistically competitive. C) oligopolistic. D) monopolistic.
Refer to Table 21.5:Table 21.5QTFCTVCTCAVCMC0 15--1 23 2 43 15 The marginal cost of the third unit of output in Table 21.5 is
A. $15. B. $4. C. $30. D. $3.
Which of the following would cause a firm's production function to shift upward?
A. Increased training for the firm's workers. B. An increase in factor costs. C. An increase in production by the firm. D. Hiring more workers.
Easy monetary policy reduces the real interest rate, which ________ the demand for dollars, ________ the supply of dollars, and ________ the equilibrium value of the dollar.
A. increases; increases; increases B. increases; decreases; increases C. decreases; increases; decreases D. decreases; decreases; decreases