Year to year rightward shifts in? long-run aggregate supply leads to
Answer: A long-run trend path for real GDP
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Among the United States, Finland, and South Africa, income is distributed most equally in ________ and least equally in ________
A) the United States; South Africa B) Finland; South Africa C) Finland; the United States D) South Africa; the United States
According to the factor price equalization theorem, the ________ factor should oppose free trade policies in any given country
A) abundant B) scarce C) neither D) Can't tell without more information
Suppose there are 11 buyers and 11 sellers, each willing to buy or sell one unit of a good, with values {$14, $13, $12, $11, $10, $9, $8, $7, $6, $5, $4,}. Assume no transaction costs and a competitive market, what is the equilibrium price in this market?
a. 7 b. 8 c. 9 d. 10
The elasticity of any demand curve is the same as its slope
a. True b. False Indicate whether the statement is true or false