A firm's short-run supply curve is its marginal cost curve above its average total cost curve.
Answer the following statement true (T) or false (F)
False
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Use the figure below to answer the following question.
The diagram concerns supply adjustments to an increase in demand (D1 to D2) in the immediate period, the short run, and the long run. Supply curves S1, S2, and S3 apply to the
A. short run, long run, and immediate period respectively. B. long run, short run, and immediate period respectively. C. immediate period, long run, and short run respectively. D. immediate period, short run, and long run respectively.
In January 2010, President Obama appointed which of the following to be chair of the Federal Reserve?
A) Greenspan B) Bernanke C) Geithner D) Trichet
In perfect competition, there are differences in the products sold by various firms.
Answer the following statement true (T) or false (F)
The long-run Phillips curve would shift to the left if
a. the money supply growth rate increased or labor markets become more flexible. b. the money supply growth rate increased but not if labor markets become more flexible. c. labor markets become more flexible but not if the money supply growth rate increased. d. None of the above is correct.