The long-run aggregate supply curve:
A. never moves.
B. shifts right when the economy experiences economic growth.
C. shifts left when the economy experiences economic growth.
D. is affected by the price level.
Answer: B
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A subprime mortgage loan is a loan granted to persons who
A) have unusually good credit ratings and who represent a very low risk of default on the debt repayment. B) are borrowing funds to purchase a business, rather than a home. C) might have low credit ratings or some other factors that lead lenders to believe that they could default on the debt repayment. D) work for the government, rather than those who work in the private sector.
Producers will take external costs into account when:
A. they actually have to pay those costs. B. environmental groups apply sufficient pressure and generate negative press coverage. C. those costs are less than the benefits. D. those costs are less than the private costs.