Aggregate supply in the new classical aggregate supply

a. is vertical in the short-run.
b. is horizontal in the short-run.
c. is upward sloping in the short-run.
d. None of the above

C

Economics

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Refer to the figure above. The region PCCAF shows the ________ after the imposition of the price ceiling

A) government revenue B) consumer surplus C) producer surplus D) deadweight loss

Economics

Which of the following physical relationships might generate economies of scale?

A) Proportionally larger pipes can transport more than a proportional increase in oil. B) Larger equipment tends to weigh more and use more fuel on a per-unit-of-output basis. C) Each lift truck requires one lift truck driver. D) A doubling of all inputs leads to a doubling of output.

Economics