The industry that produces zangs is in long-run equilibrium. Then the demand for zangs increases permanently. As a result, firms in the industry will ________. Some firms will ________ the industry, and the industry supply curve will shift ________

A) make economic an profit; enter; rightward
B) make zero economic profit; exit; leftward
C) incur economic losses; exit; rightward
D) incur economic losses; exit; leftward

A

Economics

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Rising prices erode the value of money as a ________ and as a ________

A) store of value; unit of liquidity B) medium of exchange; store of value C) store of value; unit of barter D) unit of barter; unit of account

Economics

If the actual capital-labor ratio is below the steady-state capital labor ratio, growth from convergence will be ________, and the economy will grow ________ than it will along a balanced growth path

A) negative; slower B) negative; faster C) positive; slower D) positive; faster

Economics