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

Economics

You might also like to view...

What are the three basic economic questions that must be answered by all societies?

What will be an ideal response?

Economics

An item purchased often by the same buyer is known as a

a. frequent transaction good. b. repeat-purchase item. c. free rider good. d. public good.

Economics

If gold becomes acceptable as a medium of exchange, the demand for gold will ________ and the demand for bonds will ________, everything else held constant

A) decrease; decrease B) decrease; increase C) increase; increase D) increase; decrease

Economics

On the farm, which of the following people had the highest labor value?

(a) A woman (b) A man (c) A child (d) A grandparent

Economics