Refer to the diagram relating to short-run and long-run aggregate supply. The:
A. short-run aggregate supply curve is A.
B. short-run aggregate supply curve is B.
C. long-run aggregate supply curve is B.
D. long-run aggregate supply curve is D.
B. short-run aggregate supply curve is B.
You might also like to view...
The above figure shows the U.S. market for wheat. With international trade, U.S. consumers buy ________ tons of wheat and U.S. producers produce ________ tons of wheat
A) 500,000; 500,000 B) 300,000; 500,000 C) 300,000; 700,000 D) 700,000; 300,000 E) 500,000; 700,000
When a transfer price is set lower
a. the profits of the division producing the intermediate product will rise b. the profits of the division producing the intermediate product will fall c. the costs of the division producing the intermediate product will rise d. the costs of the division producing the intermediate product will fall
[Y = C + I + G] when ________ in the income-expenditure model.
A. investment is excluded B. net exports are included C. government is included D. net imports are included
The study of exchange rate determination is a relatively new part of international economics, since
A) for much of the past century, exchange rates were fixed by government action. B) the calculations required for this were not possible before modern computers became available. C) economic theory developed by David Hume demonstrated that real exchange rates remain fixed over time. D) dynamic overshooting asset pricing models are a recent theoretical development. E) the exchange rate never fluctuates.