The United States temporarily operated outside the production possibilities frontier in
A. 1933.
B. 1943.
C. 1973.
D. 1982.
B. 1943.
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If regulations create barriers to entry in an industry, the result can be _____
a. efficiency b. monopoly c. monopsony d. higher output
The "law" of diminishing returns rests on the "law" of variable input proportions
a. True b. False Indicate whether the statement is true or false
The ________ in unemployment that occurs during recessions and depressions is called ________ unemployment.
A. increase; natural B. increase; frictional C. increase; cyclical D. decrease; structural
A vertical line showing an economy's potential output is called the ________, while a horizontal line showing the current rate of inflation is called the ________.
A. long-run aggregate supply; aggregate demand B. long-run aggregate supply; short-run aggregate supply C. short-run aggregate supply; aggregate demand D. short-run aggregate supply; long-run aggregate supply