Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward
B. Short-run aggregate supply shifting upward
C. Short-run aggregate supply shifting downward
D. Aggregate demand shifting leftward
Answer: B
Economics
You might also like to view...
At point A, 
A. MC = MR. B. The firm would do worst by shutting down. C. MC > MR. D. The firm is making positive economic profit.
Economics
If a perfect competitor is losing money it must be in the _________.
Economics
Which price ceiling will cause the greatest excess demand?
A. $1 B. $2 C. $3 D. $4
Economics
Depreciation is the term used when plants, equipment and housing deteriorate and wear out, thus losing their original values.
Answer the following statement true (T) or false (F)
Economics