Figure 9-1
In , which of the following correctly labels the curves in the aggregate demand/aggregate supply model?
a.
(1) is LRAS, (2) is SRAS, and (3) is AD.
b.
(1) is SRAS, (2) is LRAS, and (3) is AD.
c.
(1) is AD, (2) is SRAS, and (3) is LRAS.
d.
(1) is LRAS, (2) is AD, and (3) is SRAS.
a
You might also like to view...
The marginal product of labor is defined as the increase in output attributable to the last worker hired divided by the total number of workers employed
Indicate whether the statement is true or false
Bonnie gets her hair cut at her usual salon and is very happy with the results. Later that afternoon, she goes to the mall and sees that a hair salon is giving away free haircuts only on that day. If Bonnie does not take advantage of the giveaway, it is because the
a. marginal utility of another haircut would be zero or negative b. marginal utility of another haircut would increase c. marginal utility of another haircut would be zero or positive d. total utility of both haircuts would be zero or negative e. total utility of both haircuts would be higher than just one haircut
Which of the following is not one of the four broad categories of resources?
A) labor B) money C) capital D) entrepreneurship E) land
What are four types of labor market discrimination?
What will be an ideal response?