When aggregate demand shifts left along the short-run aggregate supply curve,
a. unemployment and prices rise.
b. unemployment rises and prices fall.
c. unemployment falls and prices rise.
d. unemployment and prices fall.
b
Economics
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Economic growth due to labor force expansion or capital investments will result in
I. A leftward shift of short-run aggregate supply. II. A rightward shift in long-run aggregate supply. A) I only B) II only C) Both I and II D) Neither I nor II
Economics
In the long run, a monopolistically competitive firm ________ make an economic profit and a monopoly ________ make an economic profit
A) can; can B) can; cannot C) cannot; can D) cannot; cannot
Economics