If business decision makers expect that the inflation rate will increase in the near future,
a. long-run aggregate supply will increase.
b. long-run aggregate supply will decrease.
c. short-run aggregate supply will increase.
d. short-run aggregate supply will decrease.
D
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In the context of the global economy, the United States' capacity utilization rate __________________ than it was just a few decades ago.
A. is much more important B. is much less important C. has the same importance
Refer to Figure 18.4. With an import ban, how many gloves are produced domestically in Duckland?
A) 100 B) 80 C) 60 D) 0
Consumer surplus is the value of a good minus the cost of producing it, summed over the quantity bought
Indicate whether the statement is true or false
A firm increases both its plant and its labor force by the same percentage and its average total costs remain unchanged. Is the firm experiencing increasing returns to scale, constant returns to scale, or decreasing returns to scale?
What will be an ideal response?