The vertical long-run aggregate supply curve reflects the fact that in the long run, an increase in the price level
a. will not alter the economy's maximum sustainable rate of output.
b. will increase the economy's maximum sustainable rate of output.
c. will reduce the quantity of goods and services purchasers will demand.
d. will improve the overall efficiency of resource use.
A
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If the number of sellers decreases, then the supply curve ________ and the supply ________
A) shifts rightward; increases B) shifts leftward; decreases C) does not shift; does not change, but there is a decrease in the quantity supplied D) shifts leftward; increases E) shifts rightward; decreases
An employer discriminating against Asian workers is an example of:
A) special interest group discrimination. B) cultural discrimination. C) statistical discrimination. D) taste-based discrimination.