The short-run aggregate supply curve...
What will be an ideal response?
shows the impact changes in the price level have on the quantity of real GDP when resource prices are constant
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There are about 5 million business firms in the Unites States.
Answer the following statement true (T) or false (F)
Compare the distribution of income in the United States with the distribution of income in other high-income countries
What will be an ideal response?
The Phillips curve
a. is the same as a country's production possibilities frontier.. b. is upward sloping. c. illustrates the Fed's choice between inflation and unemployment in the long run. d. illustrates the Fed's choice between inflation and unemployment in the short run. e. illustrates the Fed's choice between inflation and tax revenues in the short run.
A consumer cannot gain consumer's surplus if she purchases more than one unit of a good
a. True b. False Indicate whether the statement is true or false