In the self-correcting AD-AS model, a point where the economy's long-run AS curve, short-run AS curve, and AD curve all intersect at a single point represents a point where:
a. real GDP is equal to its full-employment level
b. the conditions of short-run equilibrium are fulfilled.
c. the conditions of long-run equilibrium are fulfilled.
d. all of the above.
e. a and c, but not b.
d
Economics
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What might prompt a fresh college graduate to turn down the first job offer he or she receives?
A) They do not wish to begin working. B) They'd rather continue straight into graduate school. C) They expect a better job offer is right around the corner. D) All of the above.
Economics
If a monopoly can produce a good at zero marginal cost, then its Lerner Index is
A) zero. B) one. C) infinity. D) undetermined.
Economics