If the price of parsley is $1, and the price remains unchanged no matter how much parsley is produced, then the AR curve
a. is an upward-sloping straight line
b. is a downward-sloping straight line
c. lies above the MR curve
d. lies below the MR curve
e. is a horizontal line
E
Economics
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Explain why GDP per capita varies among countries even though countries eventually converge to their balanced growth paths
What will be an ideal response?
Economics
If the inflation rate in 2013 was 2.5 percent, and because of that people expect the inflation rate in 2014 will also be 2.5%, these people are said to have
A) rational expectations. B) expectations of stagflation. C) adaptive expectations. D) expectations of supply shocks.
Economics