The shape of a firm's ________ -run average cost curve depends on how costs vary with ________.

Which of the following statements is TRUE?

A) Real GDP fluctuates around potential GDP. B) Potential GDP fluctuates around real GDP. C) Potential GDP is the same as real GDP. D) When all of the economy's resources are fully employed, the value of production is called real GDP.

Relative to the supply curve of high-skilled workers, the supply curve of low-skilled workers is

A) to the right. B) above. C) to the left. D) on top of the high-skilled worker supply curve.