On the long-run aggregate supply curve
A) a decrease in the price level decreases the level of potential GDP.
B) a decrease in the price level increases the aggregate quantity of GDP supplied.
C) a decrease in the price level decreases the aggregate quantity of GDP supplied.
D) a decrease in the price level has no effect on the aggregate quantity of GDP supplied.
Answer: D
You might also like to view...
There is excess production of tomatoes in the market. This implies that
A. the current price is above the equilibrium level. B. supply of tomatoes is more than the demand. C. quantity demanded is more than quantity supplied. D. the price will be rising, as a result.
India and China represent a great opportunity for U.S. companies because they have
Small savers who only have enough money to buy a few individual financial assets can use ________ to diversify
A) mutual funds B) one company's bonds C) Treasury securities D) one company's stock
Because an oligopoly includes a small number of firms, there is the possibility of ________ rather than ________, which can ________ profits for each of the firms.
A) competition; cooperation; increase B) cooperation; competition; increase C) competition; cooperation; decrease D) cooperation; competition; decrease