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What will be an ideal response?
Label place on an NFL player that provides current team first right of refusal
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Refer to Figure 5-3. With insurance and a third-party payer system, the equilibrium quantity of medical services is
A) 400. B) 800. C) 1,200. D) > 1,200.
Which statement(s) is (are) consistent with a positive relationship between inflation and the output gap?
A) If output rises above its potential level, the unemployment rate falls and firms will raise wages and prices more rapidly. B) In the short run, the AS curve is upward sloping. C) Through Okun's law, the negative relationship between the output and unemployment gaps allows the modern Phillips curve to be translated into the AS curve. D) all of the above E) none of the above
The short-run aggregate supply curve is horizontal if
A) resources were fully utilized. B) there are unutilized resources in the economy. C) resources are perfectly adaptable between production processes. D) there are high inflation rates.
A monopoly price reflects a good's marginal utility
a. True b. False Indicate whether the statement is true or false