Figure 10-15
The economy's short-run (SRAS ) and long-run (LRAS) aggregate supply curves are shown in , along with three alternative aggregate demand curves and the accompanying equilibrium points. At which point will resource prices naturally tend to decrease?
a.
A
b.
B
c.
C
d.
D
d
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Potential GDP is the value of real GDP when ______
A. the unemployment rate equals the natural unemployment rate B. there is no frictional unemployment C. there is no structural unemployment D. the unemployment rate is zero
How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.80 dollars per one British pound?
A) 40 dollars B) 90 dollars C) 50 dollars D) 100 dollars E) 95 dollars
Which of the following is a game of perfect information?
A. Chess B. Poker C. Rock-Paper-Scissors D. Both chess and poker are games of perfect information.
In 2015, the country with the highest GDP per capita in the world was
A. the United States. B. India. C. China. D. Norway.