A change in government purchases has the greatest effect on the economy in the short run when _____.
a. the aggregate demand curve is relatively flat

b. the aggregate demand curve is relatively steep.
c. the short-run aggregate supply curve is relatively flat.
d. the aggregate demand curve is vertical.
e. the short-run aggregate supply curve is vertical.


c

Economics

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Regulation that is based upon the cost of providing the good or service is known as

A) rate-of-return regulation. B) cost-of-service regulation. C) social regulation. D) deregulation.

Economics

The quantity demanded is always equal to the quantity supplied

Indicate whether the statement is true or false

Economics

Suppose the quantity demanded is 5 units when the price is $1.00. If the price rises to $2.00, the quantity demanded falls to 3 units. The price elasticity of demand is

A) 0.5. B) 0.75. C) 1.33. D) 2.00.

Economics

How would you choose to estimate a production function for a single plant? How would you choose to estimate a production function for a number of firms in an industry? Explain

What will be an ideal response?

Economics