Which of the following effects will not increase (i.e., shift to the right) the aggregate supply curve?
a. An increase in the average national price level.
b. An appreciation of the domestic currency.
c. An increase in the number of immigrants.
d. All of these answers are correct.
e. None of these answers are correct.
.A
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When a market is monopolistically competitive, the typical firm in the market can earn
a. losses in the short run and profits in the long run. b. profits in the short run and the long run. c. losses in the short run and zero profit in the long run. d. zero profit in the short run and losses in the long run.
If the slope of the indifference curve is steeper than the slope of the budget line, and X is on the horizontal axis:
A. the consumer is willing to give up more of good Y to get an additional unit of good X than is necessary under the current market prices. B. the consumer is willing to give up more of good X to get an additional unit of good Y than is necessary under the current market prices. C. MRS < ?PX/PY. D. MRS < PX/PY.