A divisive society is one in which members of society work together for the common good.

Merck, an American pharmaceutical company, produces a vaccination that is used against chicken pox. The table shows the domestic demand for, and supply of, this medication, measured in thousands of doses per day

The world price of this medicine is $24 per dose. a. With no trade, what is the U.S. price and quantity of the vaccine? b. At the world price, how many doses are demanded in the United States? c. At the world price, how many doses are produced in the United States? d. At the world price, how many doses are exported?

Picture an economy that is in general equilibrium. What would happen if the natural rate of unemployment were to experience a decrease?

A) according to the Phillips curve, the ensuing negative unemployment gap would exert inflationary pressures B) according to Okun's Law, the ensuing negative unemployment gap would be consistent with a positive output gap C) according to the AD-AS framework, the LRAS curve would shift to the right and the ensuing output gap would have to be closed by subsequent rightward shifts in the AS curve to a lower equilibrium level of inflation D) all of the above E) none of the above