If there was no profit effect or misperception effect in the short run, then SRAS is ____ and LRAS is ____
a. upward sloping; upward sloping
b. upward sloping: vertical
c. vertical; upward sloping
d. vertical; vertical
d
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Health care costs rose more than 10 percent in 2011, according to a survey of insurers by Aon Consulting Worldwide. Which of the following would be a fixed cost in a hospital?
A) an MRI machine B) bandages C) nurses D) syringes
In Figure 1 above the Keynesian equilibrium occurs at what output level?
A. Y1
B. Y2
C. Y3
D. it does not occur at any output level in the graph.
Figure 36-7
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In Figure 36-7, there are three aggregate expenditure functions (C + I + G + X? IM) for an open economy. Which of the following would cause a movement from B to A?
A. A recession in Southeast Asia B. An economic expansion in Japan C. A depreciation of the dollar D. An increase in the interest rate
Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The result of Omegalon imposing anti-dumping tariffs on electric lawnmowers manufactured in Alphonia would most likely be:
A. an increased market share for Alphonian-manufactured electric lawnmowers in Omegalon. B. higher selling prices on electric lawnmowers in Omegalon. C. lower selling prices on electric lawnmowers in Alphonia. D. increased exports of electric lawnmowers from Alphonia.