The level of long-run aggregate supply is affected by all of the following except
A) changes in the price level.
B) changes in the technology.
C) changes in the capital stock.
D) changes in the number of workers.
Answer: A
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According to this Application, if the volatility of energy prices led to expectations of declining real GDP, investment spending at that time would tend to decrease
This relationship between the decrease in investment spending and the expected decline in real GDP would be expressed by the A) present value theory. B) liquidity principle. C) accelerator theory. D) real-nominal principle.
Refer to Scenario 10.7. How many ink pads will be produced to maximize revenue?
A) 0 B) 250 C) 300 D) 500 E) none of the above
The ___________ Act has been depicted as anti-labor, and pro-employer.
Fill in the blank(s) with the appropriate word(s).
Toby sells wheat in a perfectly competitive market. This month Toby receives a lower price for a bushel of wheat than he did last month. Which of the following might explain this?
A. The market demand for wheat increased. B. The market demand for wheat decreased. C. Firms exited the market. D. Toby's costs have increased.