An increase in confidence will immediately shift
A. aggregate supply to the right.
B. aggregate supply to the left.
C. aggregate demand to the left.
D. aggregate demand to the right.
Answer: D
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Which of the following is the most aggregated value?
A. total output of a city B. total output of an industry C. total output of a country D. total output of a firm
If, in the long run, people adjust their price expectation so that all prices and incomes move proportionately to an increase in the price level, then the long-run Phillips curve is vertical.
Answer the following statement true (T) or false (F)
The demand curve faced by the monopolist
A) has a constant price elasticity. B) is the industry demand curve. C) is identical to the firm's MR curve. D) is identical to the firm's TR curve.
When MC is rising, ATC
A. must be rising. B. must be falling. C. may be falling or rising. D. will remain constant.