In the short run, the aggregate supply curve:
A. slopes upward.
B. slopes downward.
C. is perfectly elastic.
D. is perfectly inelastic.
A. slopes upward.
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The time it takes for policy makers to obtain data indicating what is happening in the economy is called
A) the data lag. B) the recognition lag. C) the legislative lag. D) the implementation lag. E) the effectiveness lag.
We import about ______% of our oil.
A. 40 B. 50 C. 66 D. 80
Suppose that when output is 20, marginal cost is $20, and average total cost is $30. Then which of the following is most likely to be true?
A. Average total cost is declining. B. Average total cost is constant. C. Average total cost is rising. D. Average total cost is less than average fixed cost.
Carefully explain the pros and cons of borrowing from other countries
What will be an ideal response?