When the inflationary gap is finally eliminated, a long-run equilibrium is established with a ____ price level and with GDP ____ potential GDP

a. higher; equal to
b. higher; greater than
c. lower; equal to
d. lower; greater than

a

Economics

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The above figure illustrates a perfectly competitive firm. Curve B represents the

A) MR curve. B) ATC curve. C) MC curve. D) AVC curve. E) AFC curve.

Economics

The development of money market mutual funds contributed to the growth of ________ since the money market mutual funds need to hold liquid, high-quality, short-terms assets

A) the commercial paper market B) the municipal bond market C) the corporate bond market D) the junk bond market

Economics