The long-run aggregate supply curve shifts to the right when ______, ceteris paribus.
a. producers are willing to supply less real output
b. firms experience relatively constant input costs
c. greater output is achieved on a sustainable basis
d. workers believe that the price level is going to increase
c. greater output is achieved on a sustainable basis
Economics
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An unchallenged monopoly in a product market has a tendency to be lazy, but that tendency can be limited by the capital market
Indicate whether the statement is true or false
Economics
A positive demand shock may
a. cause an economy to operate at a point above potential GDP in the short run b. increase potential output c. be caused by relatively low employment levels d. cause the price level to fall e. be offset by falling wage rates
Economics