If points A and B are two locations on a country's production possibility frontier, then
A) the country could produce either of the two bundles.
B) consumers are indifferent between the two bundles.
C) producers are indifferent between the two bundles.
D) at any point in time, the country could produce both.
E) both bundles must have the same relative cost.
A
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Refer to Figure 10.1. If the level of real GDP is initially Y2, spending is ________ production and there is an unexpected ________ in inventories
A) greater than; increase B) greater than; decrease C) less than; increase D) less than; decrease
A natural monopoly:
a. is a monopoly in the production of raw materials. b. occurs when one firm can supply the entire market more cheaply than can a number of firms. c. is one result of a patent. d. necessarily involves inefficient pricing.
If this firm were a perfect competitor, at what output would it produce in the long run?
A. 40 units
B. 50 units
C. 60 units
D. 70 units