The short-run aggregate supply curve shows the:
A. Inverse relationship between the price level and real GDP purchased
B. Inverse relationship between the price level and real GDP produced
C. Direct relationship between the price level and real GDP produced
D. Direct relationship between the price level and real GDP purchased
C. Direct relationship between the price level and real GDP produced
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Which of the following statements best describes the U.S. budget scenario from World War II until about 1980?
a. During this period, the United States ran budget deficits almost every year, but the percentage increases in debt were smaller than the percentage growth of GDP, so the debt/GDP ratio declined. b. During this period, the United States ran budget deficits almost every year, but the percentage increases in debt were larger than the percentage growth of GDP, so the debt/GDP ratio increased. c. During this period, the United States ran budget deficits almost every year, the percentage increases in debt were larger than the percentage growth of GDP, yet the debt/GDP ratio declined. d. During this period, the United States ran budget deficits almost every year, the percentage increases in debt were smaller than the percentage growth of GDP, yet the debt/GDP ratio increased.
Refer to the table shown. From this table we can conclude that:Cost (in euros) of producing wine and an electric generator FranceGermanyWine1020Electric Generator10,00030,000
A. Germany has a comparative advantage in wine and France has a comparative advantage in electric generators. B. France has a comparative advantage in wine and Germany has a comparative advantage in electric generators. C. France has a comparative advantage in both goods. D. Germany has a comparative advantage in both goods.
Briefly discuss the role of moral hazard in risk.
What will be an ideal response?
?For a perfectly competitive firm, ____.
a. ?price is less than marginal revenue at all output levels b. ?price equals marginal revenue at all output levels c. ?price exceeds marginal revenue at all output levels d. ?price is less than marginal revenue only at the profit-maximizing quantity e. ?price equals marginal revenue only at the profit-maximizing quantity