Which of the following, other things the same, would make the price level decrease and real GDP increase?
a. long-run aggregate supply shifts right
b. long-run aggregate supply shifts left
c. aggregate demand shifts right
d. aggregate demand shifts left
a
Economics
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The gains from trade within a price system is
A) the sum of consumer surplus and producer surplus. B) consumer surplus less producer surplus. C) consumer surplus divided by producer surplus. D) consumer surplus multiplied by producer surplus.
Economics
If an idea has not been implemented because a monopoly producer has placed a barrier to entry, the circumstances are not normal due to:
A. intervention. B. innovation. C. market failure. D. goals other than profit.
Economics