Which of the following will shift the long-run aggregate supply curve to the right?
a. Increase in the price level
b. Increase in the natural rate of unemployment
c. Decrease in per capita GDP
d. Increase in the rate of economic growth
e. Increase in the rate of inflation
Question 2
If a university charged a lower price for tuition during summer school than during the regular session, in search of added total revenue,
a. administrators likely believe that demand is more elastic during summer school than during the regular session.
b. administrators likely believe that demand is less elastic during summer school than during the regular session.
c. it indicates nothing about likely differences in the elasticity of demand during summer school than during the regular session.
d. administrators likely believe that demand is both lower and less elastic during summer school than during the regular session.
A theoretical photosynthetic response curve.
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