On the graph above, consider a point A at which output is greater than potential output. At this point, ________
A) the inflation rate will rise
B) output will rise
C) potential output will rise
D) the aggregate demand curve will shift to the left
E) none of the above
A
Economics
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A firm's average total cost is $60, its average variable cost is $30, and its total fixed cost is $600. Its output is
A) 20 units. B) 30 units. C) 40 units. D) 50 units.
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If pure competition doesn't exist in the real world what is the implication for the shape of the demand curve that real-world firms would face?
What will be an ideal response?
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