Consider an Economy with a Relatively Steep AS Curve

question 17

Multiple Choice

Consider an economy with a relatively steep AS curve. If there is a shift to the right in the AD curve, there will be a _ in the price level and _ in national output.

• A)large increase; a small decrease
• B)small increase; a large increase
• C)large increase; a small increase
• D)large increase; no change
• E)small increase; a large decrease

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

---

Definitions:

Economic Rents

Economic rents refer to the excess payment made to a factor of production over what is needed to bring that factor into its current use.

Natural Gas Extraction

The process of exploring, drilling, and producing natural gas from underground reservoirs.

Imperfectly Elastic

Describes a demand curve that does react to price changes, but not in a perfect one-to-one relationship, indicating some sensitivity to price changes but not to an infinite degree.

Substitute

A good or service that can be used in place of another to satisfy similar needs or desires.