Compared to the pay increase from just a third year of college, the actual pay increase resulting from a fourth year that results in graduation is

The least-cost way of producing a particular rate of output is represented by a point of tangency between a short-run average cost curve and the

a. total cost curve b. short-run average total cost curve c. average variable cost curve d. long-run average cost curve e. marginal cost curve

For a given level of inflation, if there is a greater reluctance by foreigners to purchase domestic goods, then the ________ shifts ________.

A. short-run aggregate supply line; downward B. aggregate demand curve; right C. short-run aggregate supply line; upward D. aggregate demand curve; left