In the above figure, curve A is the ________ curve, curve B is the ________ curve, and curve C is the ________ curve
A) long-run aggregate supply; short-run aggregate supply; aggregate demand
B) aggregate demand; short-run aggregate supply; long-run aggregate supply
C) short-run aggregate supply; long-run aggregate supply; aggregate demand
D) long-run aggregate supply; aggregate demand; short-run aggregate supply
A
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A private good:
A. is a good for which consumption involves perfect rivalry. B. is nonexcludable. C. is often provided by the government. D. is a good for which consumption involves perfect rivalry and is nonexcludable.
Refer to Figure 28-2. Suppose the economy is at point C in the figure above. If workers adjust their expectations of inflation, which of the following will be true?
A) The natural rate of unemployment is 6%. B) Workers and firms expect inflation to be 1%. C) The short-run Phillips curve will shift to the left. D) The short-run Phillips curve will shift to the right. E) The economy will move from C to A.
Consumers should purchase a good up to the point where MU = P
a. True b. False Indicate whether the statement is true or false
Investment A pays $1,200 half of the time and $800 half of the time. Investment B pays $1,400 half of the time and $600 half of the time. Which of the following statements is correct?
A. Investment A and B have the same expected value, but A has greater risk. B. Investment A has a greater expected value than B, but B has less risk. C. Investment B has a higher expected value than A, but also greater risk. D. Investment A and B have the same expected value, but A has lower risk than B.