Which of the following does not influence the position of the long-run aggregate supply curve?
a. The quantity of raw materials available for production
b. The quantity of capital used in production
c. The quality of the labor force
d. The actual price level
e. The size of the labor force
d
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What matters to people is the real value of money or income
Indicate whether the statement is true or false
Which of the following has occurred as the millennial generation has come of age?
A) The demand for golf equipment has decreased in the U.S. market. B) The demand for traditional fast food has increased in the U.S. market. C) The demand for "fast casual" food has decreased in the U.S. market. D) all of the above
Suppose Paraguay can produce 12 wheat or 3 corn. Suppose Bolivia can produce 4 wheat or 2 corn. Suppose opportunity costs are constant. Given these production possibilities,
A) Paraguay has a comparative advantage in wheat. B) Paraguay has a comparative advantage in corn. C) Paraguay has a comparative advantage in both goods. D) Paraguay has an absolute advantage in neither good.
The cost of capital is best described as the
A) opportunity cost of financing a capital outlay. B) funds that must be acquired to finance a capital outlay. C) decrease in stockholder equity due to a capital outlay. D) All of the above