Which of the following will NOT shift the short-run aggregate supply function?
A) changes in labor costs
B) changes in the costs of nonlabor inputs
C) changes in the price level
D) changes in the expected price level
C
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Unregulated monopolies can often make an economic profit in the long run because
A) they receive government subsidies. B) they have high costs. C) barriers to entry prevent competing firms from entering the market. D) the risks of running a monopoly are high.
The utility-maximizing rule:
A) is inconsistent with the law of demand. C) implies a leftward shifting demand curve. B) implies a perfectly elastic demand curve. D) is consistent with the law of demand.
Supporters of the World Trade Organization contend that it:
A. undermines minimum wage laws in member nations. B. liberalizes trade among member nations. C. imposes safeguards for worker safety in member nations. D. weakens the environmental laws in member nations.
Use the following table to answer the next question.Current AccountFinancial AccountCapital Account-$753,438 $30,696The value of the financial account is ________.
A. -$784,134 B. -$722,742 C. $722,742 D. $784,134