Inflation over time necessarily makes consumers worse off
Indicate whether the statement is true or false
False. Wages also increase over time. Workers may earn the price of some goods in less time than in the past.
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
In long-run equilibrium, a perfectly competitive firm's short-run marginal cost curve crosses the long-run average cost curve at the lowest point on the long-run average cost curve
a. True b. False Indicate whether the statement is true or false
Why does it make sense for unprofitable firms to stay in business?
What will be an ideal response?
A monopolist maximizes profit by producing the output at which marginal revenue equals marginal cost.
Answer the following statement true (T) or false (F)