A change in the capital stock ________ the short-run aggregate supply curve and ________ the long-run aggregate supply curve.
What will be an ideal response?
shifts / shifts
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According to this Application, economist Daron Acemoglu categorizes which of the following as authoritarian institutions?
A) democracies, monarchies, and dictatorships B) monarchies, dictatorships, and tightly controlled oligarchies C) constitutionally limited monarchies and democracies D) tightly controlled oligarchies, democracies, and constitutionally limited monarchies
In which market structure does one firm sell a good or service with no close substitutes and there is a barrier blocking the entry of new firms?
A) only monopoly B) only oligopoly C) perfect competition D) monopolistic competition E) either monopoly or oligopoly
As the cost of operating ATM machines falls, the demand for bank tellers will decline
a. True b. False
Paradoxically, when the economy most needs injections of money, the economic conditions are such that
a. borrowers are particularly eager to go to banks for loans b. borrowers are most reluctant to borrow (demand loans) from banks c. the FDIC will insist that banks raise the interest rate they charge borrowers d. the FSLIC and FDIC will insist that banks lower the interest rate they charge borrowers e. the Federal Reserve will print less money