The aggregate supply curve shows the relationship between the:
a. The Consumer Price Index and the level of output.
b. Real risk-free interest rate and expected inflation.
c. The nation's average price level (i.e., the implicit price index) and the level of output.
d. Nominal exchange rate and level of output.
e. None of these answers is correct.
.C
Economics
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The law of demand applies to
A) clean streets. B) clean air. C) clean water. D) the maintenance endangered species. E) all of the above.
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An industry in which economies of scale allow one firm to supply the entire market at the lowest possible cost is called a
A) legal monopoly. B) natural monopoly. C) single-price monopoly. D) one-firm monopoly.
Economics