The points outside the production possibilities frontier are
A) attainable. B) efficient. C) inefficient. D) unattainable.
D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
A New Keynesian firm chooses
A) its selling price and how much it sells at that price. B) its selling price but not how much it sells at that price. C) how much it sells but not the selling price. D) neither how much it sells nor the selling price.
If a firm's fixed cost (overhead) increases, what happens to its profit-maximizing price and output?
About ______% of the labor force belongs to a labor union.
A. 8 B. 12 C. 19 D. 26