Short-run equilibrium exists
A) where the AD curve intersects the short-run aggregate supply (SRAS) curve.
B) where the AD curve intersects the long-run aggregate supply (LRAS) curve.
C) on the AD curve only.
D) on the SRAS curve only.
A
Economics
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Which of the following statements is NOT true about economic growth?
A) Growth is measured as the overall level of real GDP. B) Growth generally means that overall the members of the nation are better off materially. C) When growth occurs the production possibilities curve shifts outward. D) Growth represents an increase in a nation's productive capacity.
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A situation in which a single individual can provide a public good is known as
A) a monopoly. B) the volunteer's dilemma. C) eminent domain. D) diffusion of responsibility.
Economics