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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If the supply of iPods increases, then
i. the supply curve for iPods has shifted rightward. ii. the price of iPods has decreased. iii. there will be a movement upward along the iPod supply curve. A) i only B) i, ii and iii C) i and ii D) ii and iii E) i and iii
Explain why bank failures are less likely today than they were prior to the 1930s.
What will be an ideal response?
Explain the supply and demand of products, factors of production, the payments for the products and factors of production as described in the circular flow diagram.
What will be an ideal response?
Refer to the information provided in Table 2.1 below to answer the following question(s). Table 2.1?KrystalMarkWriting Poems812Writing TV Commercials24Refer to Table 2.1. Which of the following statements is true?
A. Krystal has a comparative advantage in both writing TV commercials and writing poems. B. Mark has a comparative advantage in both writing TV commercials and writing poems. C. Mark has a comparative advantage in writing TV commercials, and Krystal has a comparative advantage in writing poems. D. Krystal has a comparative advantage in writing TV commercials, and Mark has a comparative advantage in writing poems.