If aggregate demand keeps increasing while aggregate supply remains unchanged, eventually
a. demand-pull inflation will occur
b. cost-push inflation will occur
c. demand-push inflation will occur
d. cost-pull inflation will occur
e. unemployment will occur
A
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In the long run, profit-maximizing monopolists facing a downward-sloping demand curve
A. can obtain profits greater than their opportunity costs of capital. B. can produce where average total costs are minimized C. can have a price that is the same as marginal revenue. D. All of these responses are correct.
Elena loves orange juice. She reads in the newspaper that 20 percent of the Florida orange crop was destroyed by a late spring frost. Economists predict that the price of oranges will rise by 50 percent by the end of the year. As a result, Elena's demand for orange juice
a. will increase but not until the end of the year. b. increases today. c. decreases as she looks for a substitute good. d. shifts left today.
Based on the table showing health care spending in selected countries, which country shown spends the lowest portion of GDP on healthcare?
a. Germany
b. Japan
c. Mexico
d. Switzerland
Real GDP is GDP
What will be an ideal response?