Refer to the given data. The labor supply curve facing firms is:
Use the labor demand data on the left and the labor supply data on the right in answering the following question:
A. such that it does not intersect the labor demand curve.
B. upsloping.
C. perfectly inelastic.
D. perfectly elastic.
B. upsloping.
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Refer to Table 2-3. Assume Dina's Diner only produces sliders and hot wings. A combination of 80 sliders and 50 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.
The SRAS curve is ____ with real output levels that ____
a. upward sloping; vary positively with the price level b. upward sloping; vary negatively with the price level c. vertical; are equal to the natural level of real output at all price levels d. vertical; can be either greater than or less than the natural level of real output