The Keynesian zone of the SRAS curve is on the far:
a. right, which is relatively flat.
b. left, which is relatively steep.
c. left, which is relatively flat.
d. right, which is relatively steep.
c. left, which is relatively flat.
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Key influences on the valuation of economic profits include ________
A) the average level of the prices of goods and services sold B) the rental price of capital C) the wage rate D) all of the above E) none of the above
Most of the spending by the federal government is for transfer payments and interest
Indicate whether the statement is true or false
Diseconomies of scale are associated with
A. an upward-sloping long-run average cost curve. B. a horizontal long-run average cost curve. C. a downward-sloping long-run average cost curve.
An increase in productivity as a result of a new technology would cause the production possibilities frontier to:
A. not move until society chooses to move it. B. shift out. C. become more meaningful in policy decisions. D. shift in.