What is the relationship among the AD, SRAS and LRAS curves when the economy is in macroeconomic equilibrium?
What will be an ideal response?
When the economy is in long-run equilibrium, the short-run aggregate supply curve and the aggregate demand curve intersect at a point on the long-run aggregate supply curve.
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You turn to the Treasury bond market page of a newspaper and look under the column headed "Ask" and see that it says, "128:16" this indicates that
A. the price that the buyer is willing to pay for this bond is $128.16. B. the price that the buyer is willing to pay for this bond is $1,280.16. C. the price that the seller is willing to sell this bond for is $1,285. D. the price that the seller is willing to sell this bond for is $128.16.
Being too big a firm can be a per se violation of antitrust laws
a. True b. False Indicate whether the statement is true or false
International trade on the basis of comparative advantage maximizes world output and allows consumers to access better-quality products at lower prices than would be available in the domestic market alone
a. True b. False Indicate whether the statement is true or false
Psychological incentives:
A. are not important in non-economic settings. B. never serve as commitment devices. C. can serve as commitment devices. D. are not important in economic settings.