Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A
B. Falling; A; C
C. Falling; B: C
D. Rising; A; C
Answer: B
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Which of the following is not a source of technological advancement for a producer?
A) more efficient physical capital B) outsourcing some aspect of production C) higher skill level of managers D) better trained workers
Prices are useful in coordinating society's economic planning because
a. they convey information about which goods are scarce and which are plentiful. b. economies based on price systems are more flexible than centrally planned economies. c. economies based on price systems are more likely than centrally planned economies to minimize the cost of producing society's output. d. All of the above are correct.
Virtual currency unit 2 (VCU2) is different from VCU1 because:
a. VCU1 can only be purchased with real-word currencies. VCU2 can be purchased with real-world currencies and also earned in the virtual world. b. VCU1 cannot be converted into legal tender; VCU2 can be converted into legal tender. c. VCU1 can only be earned in the virtual world; VCU2 can be earned in the virtual world or purchased with legal tender. d. In terms of spending potential, there is no difference; both VCU1 and VCU2 can be spent in the real world.
When four Infineon Technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as:
A. a cartel. B. if they faced kinked demand curve. C. an industry with monopolistic competition. D. if they were in a contestable market.