Refer to the accompanying figure.Starting from long-run equilibrium at point C, an adverse inflation shock that increases inflation from ? to ?1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.

Refer to Table 2-2. Assume Billie's Bedroom Shop only produces pillows and blankets. A combination of 27 pillows and 14 blankets would appear

A) along Billie's production possibilities frontier. B) inside Billie's production possibilities frontier. C) outside Billie's production possibilities frontier. D) at the vertical intercept of Billie's production possibilities frontier.

In the U.S. Steel case of 1920, the courts held that:

the structure of an industry is more important than its behavior in determining violations of the antitrust laws. B. any firm that faces substantial import competition is exempt from the antitrust laws. C. although U.S. Steel possessed monopoly power, it had not violated the Sherman Act because it had not unreasonably used that power. D. the fact that U.S. Steel possessed monopoly power was a violation of the Sherman Act.