Suppose that an increase in aggregate demand causes an unplanned depletion in business inventories. Which of the following situations will result from this?
a. The economy moves up the short-run Phillips curve.
b. The short-run Phillips curve shifts to the right.
c. The short-run Phillips curve shifts to the left.
d. The aggregate supply curve shifts to the left.
e. The economy moves down the short-run Phillips curve.
a
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About how many people lack access to safe water?
a. 20 million b. 200 million c. 500 million d. 1 billion e. 2 billion
The Heckscher-Ohlin, factor-proportions model lends support to the argument that
A) trade tends to worsen the conditions of unskilled labor in rich countries. B) trade tends to worsen the conditions of owners of capital in rich countries. C) trade tends to worsen the conditions of workers in poor countries. D) trade tends to worsen the conditions of workers in rich countries. E) trade tends to worsen the conditions of highly skilled workers in rich countries.
As a person's income rises, eventually the ________ effect outweighs the ______ effect.
Fill in the blank(s) with the appropriate word(s).
When a regulator allows a monopolist to set its price equal to long-run average cost, the regulator is practicing
A) marginal cost pricing. B) operating cost pricing. C) average cost pricing. D) optimal cost pricing.