The full-employment rate of output can
A) be surpassed in the long run only if input prices are flexible.
B) not be surpassed in either the short run or the long run.
C) be surpassed only when firms are not yet producing at full capacity.
D) be surpassed only in the short run.
D
You might also like to view...
What is the price and quantity of coffee for the second-highest point on the market supply curve?
a. $3 per pound; 3,000 pounds of coffee per year
b. $3 per pound; 5,000 pounds of coffee per year
c. $4 per pound; 7,000 pounds of coffee per year
d. $5 per pound; 7,000 pounds of coffee per year
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
In Figure 5.1, what output would a perfect competitor produce? 
A. Q1 B. Q2 C. Q3 D. Q4
In which of the four oligopolistic markets below is there considerable price competition?
A. music production industry B. airline industry C. stent industry D. high-definition DVD industry