If the price level falls by 5%, then all else being equal, the long-run aggregate supply curve will:
What will be an ideal response?
remain unchanged.
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In order to increase the capital stock, society must divert ________ that could be otherwise used to increase the current supply of ________.
A. credit; labor B. money; labor C. money; consumer goods D. resources; consumer goods
Which factor of production earns profit?
A) land B) human capital C) money D) entrepreneurship
Dean bakes his famous apple pies and sells them at the local farmer's market. If the price of apples increases, the
a. supply curve for Dean's pies will increase. b. supply curve for Dean's pies will decrease. c. demand curve for Dean's pies will increase. d. demand curve for Dean's pies will decrease.
Suppose the price of HD televisions decreases. As a result, the
A. MP of the workers making HD televisions will increase. B. MFC of the workers making HD televisions will increase. C. MRP of the workers making HD televisions will increase. D. MRP of the workers making HD televisions will decrease.