Economic growth is only possible if the long-run aggregate ______ curve shifts to the ______.
A. supply; right
B. supply; left
C. demand; right
D. demand; left
A. supply; right
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Lizzie's budget line is shown in the figure above. The relative price of a magazine is ________ per magazine
A) 2 cookies B) 0.5 of a cookie C) $1 D) $2
An inward shift of a nation's production possibilities frontier can occur due to
A) a natural disaster like a hurricane or bad earthquake. B) an increase in the labor force. C) a change in the amounts of one good desired. D) a reduction in unemployment.
Which of the following is the best example of a monopoly in the United States?
a. the U.S. Postal Service. b. the aluminum industry. c. a government-regulated public utility. d. the automobile industry.
Doctors in private health care clinics provide better care than those in public clinics because:
A. they are better trained. B. they have more incentive to practice good medicine. C. their fixed salary is generally higher than the fixed salaries of public clinic doctors. D. their facilities are generally much more updated than public facilities.