This topic contains a solution. Click here to go to the answer

Author Question: If the economy is in long run equilibrium and then aggregate demand increases, in the long run the ... (Read 88 times)

yoroshambo

  • Hero Member
  • *****
  • Posts: 566
If the economy is in long run equilibrium and then aggregate demand increases, in the long run the increase in aggregate demand means that the
 
  A) price level will be higher but real GDP will be unaffected.
  B) real GDP will be larger but the price level will be unaffected.
  C) the price level will be higher and real GDP will be larger.
  D) neither the price level nor real GDP will be unaffected.

Question 2

A single-price monopolist
 
  A) sets its price where its demand is inelastic.
  B) can always increase its profits by increasing its price.
  C) has its marginal revenue less than its price.
  D) is guaranteed an economic profit.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

emily12345

  • Sr. Member
  • ****
  • Posts: 321
Answer to Question 1

A

Answer to Question 2

C




yoroshambo

  • Member
  • Posts: 566
Reply 2 on: Jun 29, 2018
Wow, this really help


raenoj

  • Member
  • Posts: 340
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

For a complete list of videos, visit our video library