The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 

A perfectly competitive firm will shut down when the price is just below the minimum point on the

A) average fixed cost curve. B) average total cost curve. C) marginal cost curve. D) average variable cost curve. E) marginal revenue curve.

When imports of goods exceed exports of goods, the financial account shows a deficit

a. True b. False Indicate whether the statement is true or false