Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 

A. Rising; B; C
B. Falling; A; C
C. Falling; A; B
D. Rising; A; C

Answer: D

Economics

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The higher the price of the good measured on the vertical axis, other thing remaining the same, the flatter the budget line

Indicate whether the statement is true or false

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How are most fundamental economic decisions now determined in China?

A) The government decides because China is a centrally planned economy. B) Individuals, firms, and the government interact in a market to make these economic decisions. C) The United Nations decides because China is a developing economy. D) These decisions are made by the country's elders who have had much experience in answering these questions.

Economics