A positive "price surprise" will result in a
A) leftward shift in the short-run SAS curve.
B) leftward shift in the short-run AD curve.
C) rightward shift in the short-run AD curve.
D) rightward shift in the short-run SAS curve.
A
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Suppose the country of Tiny Town experienced frictional unemployment. This frictional unemployment would
A) definitely signal that the country is in a recession. B) be considered a natural occurrence in a growing economy. C) signal that there are more job leavers than job losers. D) signal that the number of discouraged workers is growing.
Monopolistically competitive markets feature high barriers to entry
a. True b. False Indicate whether the statement is true or false
Suppose the CPI in 1950 was 24.1 and the CPI in 1975 was 53.8 . When Ken's income rose from $10,000 per year in 1950 to $20,000 per year in 1970, Ken's standard of living improved between 1950 and 1970
a. True b. False Indicate whether the statement is true or false
As of 2015, per capita GDP in the United States was approximately
A. $37,000. B. $26,000. C. $56,000. D. None of the choices are correct.