If resource prices are flexible, the long-run aggregate supply curve is vertical
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
If green bikes and brown bikes are perfect substitutes, the corresponding indifference curves
A) are horizontal. B) intersect each other. C) are vertical. D) have constant slope.
Which of the following would be most likely to cause the production possibilities curve for computers and education to shift outward?
a. A choice of more computers and less education. b. A choice of more education and less computers. c. A reduction in the labor force. d. An increase in the quantity of resources.
When jobs are outsourced,
A. Unemployment increases significantly. B. Production possibilities expand. C. Corporations lose money. D. The economy begins to collapse.
A person who is willing to take a bet with a negative expected value is risk-loving.
Answer the following statement true (T) or false (F)