The determinants of aggregate supply:
A. are consumption, investment, government, and net export spending.
B. explain why real domestic output and the price level are directly related.
C. explain the three distinct ranges of the aggregate supply curve.
D. include resource prices and resource productivity.
D. include resource prices and resource productivity.
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If a contestable market has only one seller, which of the following will keep the seller from producing inefficiently and charging a price that generates long-run economic profits?
a. government regulations b. low costs of entry into and exit from the market c. substantial economies of scale that provide a competitive advantage to large firms in such markets d. the threat of a government takeover of the firms in these markets
The demand curve for a monopolist:
A.) Is steeper than the marginal revenue curve. B.) Lies below the marginal revenue curve at every point but the first. C.) Is the same as the marginal revenue curve. D.) Lies above the marginal revenue curve at every point but the first.