The SRAS curve is vertical at the natural level of real output
a. True
b. False
Indicate whether the statement is true or false
False
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In the figure above, if the market is a single-price monopoly rather than a perfectly competitive industry, the transfer of consumer surplus from consumers to the producer is the area of
A) trapezoid beic. B) triangle abe. C) rectangle begd. D) rectangle befc.
Refer to Figure 7-1. At the efficient equilibrium
A) economic surplus is maximized. B) economic surplus is zero. C) economic surplus is negative. D) economic surplus is minimized.
Dr. X, an assistant professor at a large state university, is trying to decide how to allocate the 50 hours a week she spends working among the various activities expected of an assistant professor. The professor wants to maximize her raise next year and the table shows estimates of how time spent in each activity will contribute to her raise: 
Given the above information, what is Dr. X's maximum possible raise if she works 50 hours?
A. $1860 B. $1845 C. $1495 D. $1600
Refer to the information for this hypothetical economy provided in Table 20.2 below to answer the question(s) that follow.Table 20.2 2014 2015 2016QuarterIIIIIIIVIIIIIIIVIIIIIIIVOutput98949010210510811010397949090Refer to Table 20.2. In this economy, an expansion existed around the
A. third quarter of 2014 to the third quarter of 2015. B. first quarter of 2016 to the fourth quarter of 2016. C. fourth quarter of 2014 to the fourth quarter of 2015. D. first quarter of 2015 to the first quarter of 2016.