Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C
B. Falling; A; C
C. Falling; A; B
D. Rising; A; C
Answer: D
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The oligopoly model that is most appropriate when one large firm usually takes the lead in setting price is the ________ model
A) Cournot B) Stackelberg C) game theory D) prisoner's dilemma
In 1865, Congress raised the tax on state bank notes to 10 percent of the value of notes in circulation. Quantitative evidence shows that by 1900,
a. state banks had ceased to exist. b. the number of state banks had declined dramatically. c. the number of state banks had increased dramatically. d. the number of state banks was roughly the same as in 1865.
If the demand faced by a firm is elastic, selling one less unit of output will:
a. increase revenue. b. decrease revenue. c. keep revenues constant. d. decrease price.
Jobs that require more costly training generally have
a. higher wages b. lower employment levels c. less human capital required d. higher personal risk levels e. lower wages