Using Figure 3 below the distance between what 2 lines illustrate an inflationary output gap?
A. PAE2 to PAE3
B. PAE1 to PAE2
C. Y1 to Y2
D. Y2 to Y3
D. Y2 to Y3
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During the antebellum period, the South exported more to England than it imported. This Southern trade surplus with England benefited whom?
(a) The South (b) The North (c) England (d) All of the above
In which zone does the total physical product reach it maximum value?
a. Increasing marginal return b. Negative marginal return c. Diminishing marginal return d. Decreasing total physical product
Supply-side economics:
What will be an ideal response?
The user cost of extracting a nonrenewable resource is:
A. inversely related to how much of the resource remains. B. directly related to how much of the resource remains. C. unrelated to how much of the resource remains. D. inversely related to the expected future price of the resource.