The horizontal portion of the short-run aggregate supply curve in which there is excessive unemployment and unused capacity in the economy is
A) Say's law.
B) the classical short-run aggregate supply curve.
C) the Keynesian short-run aggregate supply curve.
D) exists when prices are flexible.
C
Economics
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Describe the characteristics of an efficient contract between a principal and an agent
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A famous opera star made $2 million per year. He said he would rather sell insurance if he couldn't make more than $200,000 per year. If he is telling the truth, how much is he being paid in economic rent?
A) $2.0 million B) $200,000 C) $1.8 million D) $2.2 million
Economics