In the horizontal segment of the aggregate supply curve, when GDP:
A. increases, the price level rises.
B. decreases, the price level falls.
C. increases, the price level does not change.
D. increases, the price level falls.
Answer: C
Economics
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The type of unemployment that occurs because of a recession is called
a. frictional unemployment. b. seasonal unemployment. c. natural unemployment. d. cyclical unemployment.
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Many people believe that pure monopolies charge any price they want to without affecting sales. Instead, the output level for a profit-maximizing pure monopoly occurs where ________.
A. marginal cost equals average revenue B. average total cost equals average revenue C. marginal revenue equals average cost D. marginal revenue equals marginal cost
Economics