The production function shifts upward as the capital stock increases.

The short-run break-even price is

A. the price at which a firm's total revenues equal its total costs. B. the point at which the firm's implicit costs are maximized. C. the point at which the firm's total costs are maximized. D. the price at which a firm's total revenues exceed total costs.

If the Phillips curve is vertical in the long run, then

A. the unemployment rate will be zero in the long run. B. the inflation rate will always be zero in the long run. C. there is a trade-off between inflation and unemployment in the long run. D. there is no trade-off between inflation and unemployment in the long run.