The short-run aggregate supply curve _____
Fill in the blank(s) with the appropriate word(s).
is positively sloped.
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The above figures show the market for oranges. Which figure shows the effect of a new technology called "the orange picker," which harvests oranges less expensively than ever before?
A) Figure A B) Figure B C) Figure C D) Figure D
Examine the accuracy of the following statement: "Given that burgers and fries are complementary goods, if the price of fries increases the demand for both goods will fall."
What will be an ideal response?
What term is used to describe situations where countries specialize in and trade different varieties of the same type of product?
a. comparative advantage b. the Heckscher-Ohlin model c. intra-industry trade d. increasing returns to scale
Which fundamental economic question is most closely related to the issues of income distribution and poverty?
a. The What to Produce question. b. The Why to Produce question. c. The How to Produce question. d. The For Whom to Produce question.