The horizontal portion of the short-run aggregate supply curve in which there is excessive unemployment and unused capacity in the economy is
A) Say's law.
B) the classical short-run aggregate supply curve.
C) the Keynesian short-run aggregate supply curve.
D) exists when prices are flexible.
C
You might also like to view...
According to economic theory, the democratic political processes tend to produce
A) unstable aggregate demand policies with a bias toward expansion. B) unstable aggregate demand policies with a bias toward contraction. C) stable aggregate demand policies, but only if economists are elected to office. D) stable aggregate demand policies that are in the best interests of the nation as a whole. E) economic policies that harm everybody.
Refer to Figure 12-5. What is the amount of the firm's fixed cost of production?
A) $5,400 B) $6,750 C) $8,100 D) It cannot be determined.
Individuals who lease a new car
A) have a higher discount rate than those who buy. B) have a lower discount rate than those who buy. C) have the same discount rate as those who buy. D) behave irrationally and are taken advantage of by car companies.
Child poverty is
A. much more of a problem in France, Germany, and Japan than it is in the U.S. B. less of a problem in the United States than in Canada, Britain, or Italy. C. more of a problem in Sweden, Denmark, and Ireland than it is in the U.S. D. much more of a problem in the U.S. than in virtually all other industrialized countries.