The level of real GDP identified by the long-run aggregate supply curve is
A. the level of GDP at which no one is below the poverty line.
B. the level of GDP at which each business firm is experiencing growth in sales.
C. the level of GDP at which each industry is experiencing growth in sales.
D. the full-employment level of real GDP.
Answer: D
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The inflation rate between last year and this year was 14 percent. The CPI was 118 this year. What was the CPI last year?
A) 104.0 B) 103.5 C) 104.5 D) 105.0 E) 103.0
When Javier's income increases by $5,000, he spends an additional $3,750 dollars. This implies that his marginal propensity to consume is 0.75
Indicate whether the statement is true or false
Which of the following will decrease the natural rate of interest?
A) An increase in taxes B) An increase in investment spending C) A decrease in inflationary expectations D) An increase in the money supply
Refer to the table below. What is the profit-maximizing number of quality units for Stuffed Pies to produce?
Stuffed Pies is a frozen calzone manufacturer. The table above summarizes Stuffed Pies' marginal revenue and marginal cost of quality at various quality amounts.
A) 9
B) 11
C) 7
D) 13