When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, which of the following curves slopes downward?
A. SRAS
B. AD
C. LRAS
D. None of the above
Answer: B
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Which of the following is NOT an objective of economic regulation?
A) to regulate the prices enterprises are allowed to charge B) to fix prices so that they are never allowed to rise C) to keep rates of return in an industry at a competitive level D) to prevent monopoly profits
_________ are organized groups of workers that bargain collectively with employers.
A. Wage stickers B. Aggregated labor groups C. Unions D. Student councils
Which of the following is a non-price determinant of demand?
A) income B) tastes and preferences C) prices of related goods and services D) All of the above are correct.
The largest government-run health care system in the world, with 1.7 million employees, is in
A) the United Kingdom. B) the United States. C) Japan. D) Canada.