The long-run aggregate supply curve occurs at the level of real GDP consistent with
A. the natural rate of unemployment.
B. low levels of inflation.
C. no inflation.
D. individuals' tastes and preferences.
Answer: A
Economics
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If a monopoly charges higher prices to consumers who buy smaller quantities than to consumers who buy larger quantities, then
A) consumer surplus is larger than under single-price monopoly. B) social welfare is larger than under perfect competition. C) the monopoly's profits are larger than under single-price monopoly. D) the monopoly's profits are larger than under perfect price discrimination.
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The numerical value of the slope of a line depends in part on the units of measurement used
a. True b. False
Economics