What is measured on the horizontal axis when we draw a graph of the long-run aggregate supply curve?
A. real GDP
B. production of capital goods
C. the price level
D. production of consumer goods
Answer: A
You might also like to view...
Over the last 50 years, has the ratio of household production to gross domestic product in the United States increased or decreased? Consider the effect of the increased number of women working outside the home, and the effect of advances in
technology in household production such as microwaves, coffee makers, power tools, etc.
What is the government purchases multiplier if the tax rate is 0.2 and the marginal propensity to consume is 0.8? Assume the economy is closed
A) 2.78 B) 5 C) 6.25 D) 100
Behind the Glass-Steagall Act was the feeling that __________ is too risky for commercial banks
A) underwriting corporate securities B) competing to pay high deposit rates C) making business mortgage loans D) interstate branching
The lemons problem occurs mainly because of
A) asymmetric information. B) a market failure. C) negative externality. D) positive externality.