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 upward
C. Short-run aggregate supply shifting downward
D. Aggregate demand shifting leftward
Answer: B
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Freedom of entry into a market tends to preserve
A) competition. B) abnormal profits. C) social justice. D) the gap between the price of a good and marginal cost.
Describe the differences between the growth rates of real personal consumption and real gross private investment in the United States
What will be an ideal response?
Which of the following is a short run adjustment? a. A bakery hiring two additional bakers
b. Two new firms enter the textile industry. c. Three firms leave the bicycle industry. d. A computer hardware company builds a new factory.
During a primary election, Candidate A receives 45% of the vote, Candidate B receives 30%, and Candidate C receives 25%. This situation illustrates which of the following?
a. A voting cycle b. Partisan politics c. The electoral college d. The median voter result