Refer to the following graphs.
Which graph depicts a perfectly competitive firm in long-run equilibrium?
A. Graph I
B. Graph II
C. Graph III
D. Graph IV
Answer: B
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In the Keynesian model with government and the foreign sector added, what are the components of spending? Which of these components are autonomous and which are not? How is the equilibrium found?
When the economy is not at an equilibrium, what adjustments are made?
By the mid-nineteenth century,
(a) indentured servitude disappeared in the U.S. (b) slavery was disappearing. (c) more and more immigrants were drawn into the production of agricultural goods on large plantations. (d) all of the above were true.
If resource prices are flexible, the long-run aggregate supply curve is vertical
a. True b. False Indicate whether the statement is true or false
While using an outward-oriented development strategy, the government in Taiwan did not make any attempt to stimulate exports
a. True b. False Indicate whether the statement is true or false