In constructing the short-run aggregate supply curve, we define the short run as the period in which:
a. the price level is constant
b. output is fixed.
c. profit is constant.
d. the costs of some resources are fixed.
e. the economic growth rate is less than 4 percent.
d
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Refer to Figure 19-1. Which of the following would cause the change depicted in the figure above?
A) European productivity rises relative to American productivity. B) The U.S. removes a quota on wristwatches from the European Union. C) Americans increase their preferences for goods produced in the EU relative to American goods. D) The price level of goods produced in the EU increases relative to the price level of goods produced in the United States.
Which of the following could increase the labor-supply curve for computer-repair technicians?
a. an increase in the wages paid to computer-repair technicians b. an increase in immigration c. a change in the work preferences of men, with more of them preferring to be stay-at-home fathers d. an increase in the wages paid to television-repair technicians
JoJo has a monopoly producing stringless yoyos. His company is called JoJo's Yoyos. As a result of his monopoly position,
A. he is guaranteed a profit. B. if he loses money in the short run, he will make money in the long run. C. his average total costs will always be lower than the price he charges. D. None of the choices are correct.
As general business conditions deteriorate, all other factors constant:
A. the bond supply curve will shift left. B. the price of bonds will decrease. C. the bond demand curve shifts left. D. there will be a movement down the existing bond supply curve.