When the short run aggregate supply curve shifts right, it ___ the short-run Phillips curve
a. Moves the economy up along
b. Moves the economy down along
c. Shifts right
d. Shifts left
d
You might also like to view...
Why is the total profit curve shaped like a hill?
What will be an ideal response?
According to the text, critics point out that the costs incurred by firms due to regulations
A) increase production costs. B) lower production costs to the shutdown point. C) reduce taxes too far. D) none of the above.
The decrease in the quantity of labor supplied due to the greater demand for leisure caused by a higher income is called the:
A. income effect. B. price effect. C. substitution effect. D. labor effect.
A change in the quantity supplied of a good is represented as a:
A. movement along a supply curve. B. shift of a supply curve. C. movement along the supply function. D. shift of the supply function.