If business cycles are caused by changes in aggregate supply, you would expect to see
a. prices and unemployment moving in the same direction.
b. price and unemployment moving in opposite directions.
c. prices not moving with unemployment.
d. unemployment is not included in the Keynesian model.
A
Economics
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Suppose the firms in a perfectly competitive industry are earning positive economic profits
How will these positive profits affect the flow of resources into the industry? How will the equilibrium quantity and price change in the industry because of the profits?
Economics
The period between ________ is commonly regarded by economists as a "golden age" of rapid productivity growth in the United States
A) 1898 and 1929 B) 1920 and 1940 C) 1933 and 1965 D) 1948 and 1973
Economics