The "Long-Run Aggregate Supply Curve," Vertical at Y^*,shows That

question 7

Multiple Choice

The "long-run aggregate supply curve," vertical at Y^*,shows that

• A)potential output will rise as prices rise.
• B)potential output will fall as prices rise.
• C)potential output is compatible with any price level.
• D)potential output is compatible with one particular price level.
• E)prices will always rise in the long run.

Examine the role and impact of African slavery in the colonization and development of the Americas.

Investigate the strategies employed by indigenous peoples to resist European colonization, including alliances and warfare.

Compare and contrast the religious motivations and practices that influenced the colonization strategies of Spain, France, and England in North America.

Assess the influence of specific historical events in Europe on the colonization efforts and policies in North America.

---

Definitions:

Marginal Cost

The boost in complete costs associated with creating one more unit of a product or service.

Private Good

A product that is excludable and rival in consumption, meaning its use is limited to the purchaser and it cannot be shared without diminishing availability to others.

Rivalry

Competition or contention between two or more parties for a goal that only one can attain.

Excludability

A characteristic of a good according to which it is possible to prevent people who have not paid for the good from consuming it.