The money wage rate is constant when moving along
A) only the potential GDP line.
B) the aggregate supply curve, the potential GDP line, and the aggregate demand curve.
C) only the aggregate supply curve.
D) only the aggregate supply curve and the potential GDP line.
E) neither the aggregate supply curve nor the potential GDP line.
C
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Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the area representing consumer surplus after the imposition of the price floor?
A) C + E B) B + C + D + E C) A+ B + D D) A
Opening trade between nations enables each nation's consumption possibilities to go beyond the confines of its own production possibilities curve
a. True b. False Indicate whether the statement is true or false
Between 1973 and 1995, productivity in the United States had
A. been rising at a faster rate than it was before 1973. B. been rising at a slower rate than it was before 1973. C. been rising at about the same rate as it was before 1973. D. not risen.
Average total cost equals:
A. total fixed cost plus total variable cost. B. average fixed cost minus average variable cost. C. average fixed cost plus average variable cost. D. total cost minus average cost.