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 87 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
Great answer, keep it coming :)


nguyenhoanhat

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

For a complete list of videos, visit our video library