A positively sloped aggregate supply curve reflects
A. The idea that greater production lowers profit margins, which raises quantity demanded.
B. The decrease in the real value of money as the price level rises.
C. None or the other choices.
D. The rising costs associated with increased capacity utilization.
Answer: D
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One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
Your textbook mentions four arguments against government intervention to reduce inequality. List any three of these.
What will be an ideal response?
An employee who prepares checks and submits them with supporting documents to the official authorized to sign checks should not be responsible for mailing the signed checks.
a. true b. false