Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C
B. Falling; A; C
C. Falling; A; B
D. Rising; A; C
Answer: D
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In more modern times as opposed to the times of Malthus, higher standards of living appear to
A) decrease death rates and increase birth rates. B) decrease death rates and also decrease birth rates. C) decrease death rates and have no effect on birth rates. D) have had effects on neither death rates nor birth rates.
When Canada buys lemons from Mexico instead of growing lemons in heated greenhouses,
A. Canadian consumers will gain because lemon prices will drop. B. Canadian lemon producers will gain because lemon prices will drop. C. Canadian consumers will gain because lemon prices will rise. D. Mexican lemon producers will lose because lemon prices in Canada will rise.
In which of the following situations will both market clearing price and the equilibrium quantity decrease?
A) an increase in demand and no change in supply B) an increase in supply with no change in demand C) a decrease in supply with no change in demand D) a decrease in demand with no change in supply
________: the change in output or total product the business would achieve in the current period by expanding the use of an input by another unit
Fill in the blank(s) with correct word