Say’s law and Keynes’ law can both be illustrated in the ______________ model.

Which of the following statements is TRUE about the market and individual firm's supply curve for labor?

A) The market supply curve is perfectly elastic and the individual firm's supply curve is perfectly inelastic. B) The market supply curve is perfectly inelastic and the individual firm's supply curve is perfectly elastic. C) The market supply curve is more elastic than the firm's supply curve. D) The market supply curve is more inelastic than the firm's supply curve.

Figure 10-7

Refer to Figure 10-7. Which of the diagrams in Figure 10-7 represents a period of economic growth and inflation?

a.
Panel (A)

b.
Panel (B)

c.
Panel (C)

d.
Panel (D)