Which list ranks assets from most to least liquid?
a. money, bonds, cars, houses
b. money, cars, houses, bonds
c. bonds, money, cars, houses
d. bonds, cars, money, houses
a
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The above figure shows a motel engaged in monopolistic competition with other motels. The figure above shows the ________ equilibrium in which the motel is ________
A) short-run; earning an economic profit B) short-run; earning a normal profit C) long-run; earning an economic profit D) long-run; earning a normal profit E) short-run; incurring an economic loss
The main effect of an increase in capital stock is a(n):
a. rightward shift of the long-run aggregate supply curve. b. rightward shift of the aggregate demand curve c. leftward shift of the long-run aggregate supply curve. d. leftward shift of the aggregate demand curve. e. increase in price and output levels.
If technology improves when a nation is in the intermediate range and only the Aggregate Supply changes, then:
a. Real GDP remains the same and average price level rises. b. Real GDP remains the same and average price level remains the same. c. Real GDP falls and average price level rises. d. Real GDP falls and average price level falls. e. Real GDP rises and average price level falls.
All the supply of peppermint oil is produced from mint plants grown in one county by several competitive growers (the number of growers is not limited). The quality of land in the county varies greatly. Would you expect the long-run market supply curve to slope upward, downward, or remain constant? Why?
What will be an ideal response?