The flat part of the aggregate supply curve is the _____ range.
Fill in the blank(s) with the appropriate word(s).
Keynesian
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The graph illustrates the demand curve for soda. After a rise in the price of a soda from $1.00 a can to $2.00 a can, the quantity of soda demanded
A) decreases from 2 cans to 0 cans a day. B) increases from 0 cans to 2 cans a day. C) remains unchanged. D) decreases from 1 can to 0 cans a day. E) cannot be determined from the figure because the demand curve will shift to a new curve.
Using the above figure, which of the following is CORRECT?
A) 1 guilder will sell for $2. B) 1 dollar will sell for 1/2 guilder. C) A shortage of guilders exists at an exchange rate above $0.60. D) A surplus of guilders exists at an exchange rate above $0.60.
The "A" in the neoclassical production function incorporates
a. new inventions. b. changes in efficiency. c. more productive capital. d. more efficient labor organization. e. all of the above.
Holding all other forces constant, if increasing the price of a good leads to an increase in total revenue, then the demand for the good must be
a. unit elastic. b. inelastic. c. elastic. d. None of the above is correct because a price increase always leads to an increase in total revenue.