The branch of economics which studies the behavior of entire economies is called

The gains from trade include: i. lower prices from competition. ii. greater output from specialization. iii. greater variety of goods and services available

A) i and iii only B) ii and iii only C) i and ii only D) i, ii, and iii E) ii only

If policy makers think the natural rate of unemployment is lower than it really is, then their policies designed to move the economy to the estimated natural rate, if continued over the long run, will: a. cause continuing inflation

b. shift the long-run aggregate supply curve to the right. c. shift the supply curve of labor to the right. d. lead to a lower price level. e. keep the economy below its potential GDP level.