________: the segment of the aggregate supply curve that is perfectly inelastic

Fill in the blank(s) with correct word


Classical range

Economics

You might also like to view...

An increase in aggregate demand is most likely to be caused by a(n) ________.

A. decrease in the tax rates on household income B. increase in real interest rates C. decrease in expected returns on investment D. decrease in government spending

Economics

Suppose there are only 2 nations, Atlantis and Pacifica, and only two goods, surfboards and kayaks. If Atlantis produces only surfboards, it can make 50 per day. If Atlantis produces only kayaks, it can make 75 per day

If Pacifica produces only surfboards, it can make 75 per day. If Pacifica produces only kayaks, it can make 75 per day. After trade begins, ________ will specialize in the production of surfboards and ________ will specialize in the production of kayaks. A) Atlantis; Pacifica B) Pacifica; Atlantis C) Atlantis; Atlantis D) Pacifica; Pacifica

Economics

In the long run, economic profit for a monopolistically competitive firm

a. is zero, due to the lack of barriers to entry b. is zero, due to product differentiation c. may be positive, due to strong barriers to entry d. may be positive, due to product differentiation e. may be positive, due to advertising and product promotion

Economics

If global pollution causes climatic changes that permanently harm crop production worldwide, aggregate supply and demand analysis would lead us to expect _____

Fill in the blank(s) with the appropriate word(s).

Economics