The long-run aggregate supply curve illustrates the
A) relationship of the price level and real GDP when the economy is at full employment.
B) relationship of the price level and real GDP when the economy is at zero unemployment.
C) amount of products producers offer at various prices when money wages and other resource prices are fixed.
D) surpluses, shortages and equilibrium level of GDP.
A
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Why are public goods provided by the government, rather than by the private sector?
A) because they are large-scale projects that require the kind of financing only governments can generate through the issuance of bonds B) because it would be difficult for a private sector firm to make a profit providing a public good, since consumers who benefit would not have to pay for it C) because no one really benefits from public goods D) because private sector firms do not have the foresight to plan for public goods
Most American firms are corporations.
Answer the following statement true (T) or false (F)