A cost-push inflation spiral results if the Fed's response to stagflation is to keep...
What will be an ideal response?
increasing aggregate demand
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The change in potential real GDP and aggregate supply shown in the graph above can be a result of
A) a fall in the price level. B) a decrease in the money wage rate. C) an increase in the real wage rate. D) an increase in the quantity of capital. E) a decrease in the money price of oil.
It is more likely for tacit collusion to occur in the ________ market compared to the ________ market.
A) commercial airline; fast food B) dog food; cellular telephone provider C) fast food; commercial airline D) dog food; commercial airline
Producer surplus is equal to the area
A) under the demand curve and above the supply curve. B) above the supply curve and below the price line. C) under the supply curve. D) under the demand curve and above the price line.
For a monopolist
A. marginal revenue equals average revenue. B. marginal revenue is greater than price. C. marginal revenue equals price. D. marginal revenue is less than price.