To Keynesians, a vertical aggregate supply curve
A) is nonsensical.
B) holds in the short run but not the long run.
C) holds in the long run but not the short run.
D) will only be encountered at the full-capacity output of the economy.
C
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If a firm is in the short run,
a. all its resources are variable. b. it is planning its output for six months. c. it is not possible for a firm to be efficient. d. at least one of the firm’s resources cannot be varied.
Unemployment insurance could affect unemployment by:
A. increasing the equilibrium level of unemployment. B. decreasing the amount of frictional unemployment. C. changing the incentives of those unemployed and looking for work. D. All of these are true.
It has been generally observed that most trade in the world occurs between a developed and a less-developed nation rather than between industrial or developed nations
a. True b. False Indicate whether the statement is true or false
The 1970s was a period of high productivity growth in the United States.
Answer the following statement true (T) or false (F)