The position of the? long-run aggregate supply curve is determined by
a. the production possibilities curve.
b. the interest rate effect.
c. the long-run aggregate demand curve.
d. the open economy effect.
Ans: a. the production possibilities curve.
You might also like to view...
Markets exist
A) because each person specializes in the production of many products. B) because people are self-sufficient. C) as an arrangement where buyers do not interact with sellers. D) so people can buy and sell things.
Bans and quotas ___________ in situations where it is difficult or costly for authorities to monitor and punish rule-breakers.
A. often succeed B. sometimes succeed C. rarely succeed D. always succeed
Which one of the following events will leave GDP unchanged?
a. You pay $500 to repair your car damaged in an accident. b. You buy a new domestic car to replace one that was stolen. c. You lose $500 playing blackjack with friends. d. You work extra hours this month to help make up for the money you lost playing blackjack.
Nate collected Social Security payments of $220 a month in 1985 . If the price index rose from 90 to 108 between 1985 and 1986, then his Social Security payments for 1986 should have been
a. $228. b. $238. c. $257. d. $264.