Which of the following is true of the short-run aggregate supply curve?
What will be an ideal response?
It shows the relation between the price level and the quantity of aggregate output firms supply, other things constant.
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In recessions, we expect to run federal budget ___ bc govt spending will be ____ tax revenues.
a. balances; equal to b. surpluses; greater than c. surpluses; smaller than d. deficits; greater than e. deficits; smaller than
We can explain the paradox of value as follows: The consumer surplus from water, which is cheap, is ________ than the consumer surplus from gold, which is expensive; the total utility from gold is ________ than the total utility from water; and the
marginal utility per dollar spent on water ________ the marginal utility per dollar spent on gold. A) greater; less; equals B) smaller; less; equals C) greater; greater; greater than D) less; greater; greater than