The welders' union at Ajax is on strike. The maintenance union has decided to walk out in support of the welders' union. This is known as

The above table gives the demand and supply schedules for cat food. If the price is $3

00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?

In terms of aggregate supply, the difference between the long run and the short run is that in the long run:

A. the price level is variable. B. employment is variable. C. real output is variable. D. nominal wages and other input prices are fully responsive to price-level changes.