The slope of the short-run aggregate supply curve shows that:
A. as overall price levels increase, firms are willing to produce more.
B. as overall price levels decrease, firms are willing to produce more.
C. firms are constrained to a certain level of output in the short run, regardless of the price.
D. firms are constrained to a certain price in the short run, regardless of level of output.
A. as overall price levels increase, firms are willing to produce more.
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The term "early adopters" refers to
A) consumers who respond quickly to fads, seasonal changes, etc. B) consumers who are willing to pay high prices to be among the first to own new products. C) firms that are the first to implement a new technology that is used to produce new goods or services. D) book clubs that are first to recommend best-selling books to their members.
American economic history is important because it will help you understand
(a) how to change strategically the course of the future since it was shaped by the past. (b) why some armies failed and others succeeded. (c) how to change the past. (d) how to produce the exact same type of successful growth and development in other countries.