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Author Question: In terms of the aggregate demand and aggregate supply framework, the Great Depression can be viewed ... (Read 67 times)

wenmo

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on: Jun 30, 2018
In terms of the aggregate demand and aggregate supply framework, the Great Depression can be viewed as a:
 a. rightward shift of the aggregate demand curve.
 b. rightward shift of the aggregate supply curve.
 c. downward movement along the aggregate demand curve.
  d. a leftward shift of the aggregate demand curve.
 e. a leftward shift of the aggregate supply curve.

Question 2

Which of the following is a distinction between perfectly competitive and monopolistic competition?
 a. Perfectly competitive firms must compete with rival sellers; monopolistically competitive firms do not confront rival sellers.
  b. Monopolistically competitive firms can raise their price without losing sales; perfectly competitive firms must lower their price in order to sell more of their product.
  c. Perfectly competitive firms confront a perfectly elastic demand curve; monopolistically competitive firms face a downward-sloping demand curve.
  d. Perfectly competitive firms may make either economic profits or losses in the short run, but monopolistically competitive firms always earn an economic profit.


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micaelaswann

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


wenmo

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Dominic

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Reply 3 on: Yesterday
Wow, this really help

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