The primary difference between a market-day supply curve and a short-run supply curve is the
a. amount of time that suppliers have to respond to a price change
b. number of suppliers that can enter the market
c. time available to people to align their demands to supply
d. type of good being produced
e. lower price that increases quantity supplied
A
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At the point at which the consumption function intersects the 45 degree reference line
A) planned real consumption of real disposable income equals zero. B) planned real saving equals real disposable income. C) planned real consumption equals real disposable income. D) equilibrium output is supply determined equilibrium output is determined by both.
In economics, welfare analysis focuses on
A) income transfer programs. B) food stamp programs. C) international aid programs. D) None of the above.
Complete the following short-run cost table using the information provided
Small? percentage-point differences in growth rates lead to _______ differences in per capita real GDP over time.
Fill in the blank(s) with the appropriate word(s).