Any event that changes any of the determinants of YN will shift the LRAS.
a. true
b. false
Ans: a. true
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The producer surplus on a unit of a good is the
A) difference between the marginal social benefit and the marginal social cost. B) number of dollars' worth of other goods and services forgone to produce this unit of the good. C) difference between the price of the good and the marginal cost of producing the good. D) difference between the total cost of the good and the marginal cost.
The elasticity of supply equals ________ if the supply curve is vertical
A) 0 B) 1 C) infinity D) -1
Business debt is an example of a lagging indicator
Indicate whether the statement is true or false
Luke purchases a $50,000 face value one-year Treasury bill for $46,296.30, and the next day investors decide they will only buy one-year Treasury bills if they receive an interest rate of 4%
If Luke decides to sell his Treasury bill to another investor the day after he purchased it, he will A) receive a capital gain of $1,780.62. B) receive a capital gain of $2,000.00. C) suffer a capital loss of $1,923.08. D) suffer a capital loss of $1,851.85.