In the figure above, the market for jackets ________ in long-run equilibrium, and there is ________ for new firms to enter
A) is; no incentive
B) is; an incentive
C) is not; an incentive
D) is not; no incentive
A
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Raising the federal funds rate shifts the aggregate demand curve ________ so that real GDP ________ and the price level ________
A) rightward; increases; rises B) leftward; decreases; rises C) rightward; increases; falls D) leftward; decreases; falls E) leftward; increases; rises
Which of the following economic theories focus on aggregate demand to explain changes in unemployment and inflation?
A. Classical and supply-side B. Keynesian and monetarist C. Classical and Keynesian D. Classical but not monetarist
An increase in labor productivity will shift
A) MRP curve to the left. B) MFC curve to the right. C) MRP curve to the right. D) MFC curve to the left.
If a nation has a(n) _____ in the production of an item, it can produce _____ of the item with the same quantity of resources than can other nations.
A. absolute advantage; more B. mutual gain; the same amount C. special advantage; more D. comparative advantage; more