Along the long-run aggregate supply curve, the price level ____ with increases in aggregate demand
a. does not change
b. increases
c. decreases slightly
d. decreases dramatically
b
Economics
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Refer to Table 19-28. Based on the table above, what is national income for this economy?
A) $1,950 billion B) $2,250 billion C) $2,950 billion D) $3,550 billion
Economics
Which of the following is associated with peaks in the business cycle? a. Relatively high levels of unemployment. b. Recessions
c. Relatively low levels of unemployment. d. Both answers a. and b. above are correct.
Economics
Refer to Figure 8.2. Which graph illustrates an output expansion path with a constant capital-labor ratio?
A. A
B. B
C. C
D. D
Economics
Average variable costs and average total costs are calculated by dividing by ________
a. revenue b. profit (P) c. output (Q) d. fixed costs (FC)
Economics