At full-employment GDP,
A) the long-run aggregate demand curve is horizontal.
B) the long-run aggregate demand curve is vertical.
C) the long-run aggregate supply curve is horizontal.
D) the long-run aggregate supply curve is vertical.
D
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If arrival and departure delays are frequent early in the morning and late afternoons, but there are no delays during the evening hours, we can conclude that the airport authority
A. charges high landing fees at common departure and arrival times. B. is concerned about the delay times. C. is charging uniform landing fees throughout the day D. should reduce the number of flights during the busy times.
Which of the following economic variables is exogenous in the Three-Sector-Model?
a. Government spending on goods and services. b. Real GDP. c. GDP price index. d. Quantity of the domestic currency per time period. e. None of the above.
Explain what decisions and calculations a very foresighted consumer must make to determine her consumption decisions in any period
What will be an ideal response?
Given the information in Scenario 4.3, suppose that the price of erasers increases slightly from $10. How will this affect the total revenue collected by the firm?
A) Total revenue will increase. B) Total revenue will not change. C) Total revenue will decrease. D) There will be an indeterminate change in total revenue.