Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward
B. Short-run aggregate supply shifting upward
C. Short-run aggregate supply shifting downward
D. Aggregate demand shifting leftward
Answer: B
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Employment discrimination is a source of
A. economic inefficiency. B. increased economic growth. C. innovation. D. shifting production possibilities. E. All of the responses are correct.
The headline in the local paper today is "College tuition next fall rise by 6 percent." This statement is an example of
A) a normative statement. B) a positive statement. C) an invalid statement. D) ceteris paribus.
If a perfectly competitive firm cannot cover all of its costs, then it should shut down in the short run
a. True b. False Indicate whether the statement is true or false
Finite resources
a. must be renewable b. must be nonrenewable c. can be renewable or nonrenewable d. are only nature-made resources e. can be expanded in a short period of time