An increase in the price of a firm's good or service shifts its demand curve for labor leftward

In the above figure, the short-run equilibrium will eventually adjust to a long-run equilibrium with a

A) lower price level and smaller real GDP B) higher price level and larger real GDP. C) higher price level and smaller real GDP. D) lower price level and larger real GDP.

The U.S. system of resource ownership

a. is pure capitalism b. excludes any state ownership of resources c. includes government restrictions on the use of privately owned resources d. is designed to eliminate the problem of scarce resources e. excludes any communal ownership