An increase in aggregate demand will have a smaller long-run effect on real GDP if the:
a. aggregate demand curve is flat
b. short-run aggregate supply curve is horizontal.
c. economy is well below potential output.
d. economy is already at potential output.
e. aggregate demand curve is fairly steep.
d
Economics
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The single best indicator of the degree of economic inequality in a country is the
a. top/bottom ratio b. Gini coefficient c. poverty rate d. Kuznets curve e. bell curve
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Which of the following sayings best reflects the concept of opportunity costs
What will be an ideal response?
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