In the macroeconomy, demand-side shifts change:
A. only the price level in the long run, while output eventually returns to its long-run potential level.
B. only the output level in the long run, while prices eventually return to their long-run potential levels.
C. aggregate demand only, which eventually shifts back in the long run.
D. aggregate demand only, which is why the price level remains unaffected in the long run.
A. only the price level in the long run, while output eventually returns to its long-run potential level.
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What is human capital?
A. Immigrant labor B. Someone who operates heavy equipment C. Your professor's knowledge of the economy D. A car assembly line robot
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The minimum point of the average total cost curve is called the efficient scale
a. True b. False Indicate whether the statement is true or false