In the short run, wages are assumed to be:
a. constant

b. sticky.
c. inflexible.
d. all of the above are true.


d

Economics

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What will be an ideal response?

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Milton Friedman called the response of lower interest rates resulting from an increase in the money supply the ________ effect

A) liquidity B) price level C) expected-inflation D) income

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The Phillips curve explains the trade-off between inflation and unemployment

a. True b. False Indicate whether the statement is true or false

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When taxation is proportional, the tax rate an individual pays:

A. remains constant as the individual's income increases. B. falls as the individual's income increases. C. increases as the individual's income increases. D. varies as the individual's income changes.

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