The short-run aggregate supply curve shifts to the right when
A) output gap is higher.
B) output gap is lower.
C) expected inflation is higher.
D) expected inflation is lower.
D
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According to the second law of thermodynamics
a. matter and energy can be neither created nor destroyed b. nature’s capacity to convert matter and energy is limited c. nothing is lost in the conversion of materials from economic activity into other forms of matter and energy d. all of the above e. none of the above
Few bother to think about what makes Florida oranges show up daily in South Dakota supermarkets, but the people of South Dakota are likely to think a great deal about this. Why does someone take the time and energy to assure that oranges that are grown in Florida move more than 1,000 miles before they appear on grocery shelves?
What will be an ideal response?
Why does the model of perfect competition imply that there will be an efficient allocation of resources among firms?
What will be an ideal response?
Changes in both physical and human capital affect a nation's ability to produce goods and services
a. True b. False Indicate whether the statement is true or false