If ________, the short-run AS curve shifts upward over time.
A. actual output exceeds potential output
B. actual output is zero
C. actual output equals potential output
D. actual output is less than potential output
Answer: A
You might also like to view...
Which of the following is a disadvantage of the U-form structure?
a. In case of multiple products sold in different markets, a U-form structure is difficult to maintain. b. A U-form structure requires a larger staff to evaluate top-level decision making than other organization structures. c. A U-form structure necessitates a multiple-level decision-making process. d. The amount of information that is considered for decision-making in a U-form structure is less than other structures.
The economy will reach equilibrium in a simple economy only if saving is
a. greater than investment. b. less than investment. c. equal to investment. d. equal to disposable income.
Which of the following events would shift money demand to the left?
a. an increase in the price level b. a decrease in the price level c. an increase in the interest rate d. a decrease in the interest rate
Suppose we wish to examine the determinants of the equilibrium real wage and equilibrium level of employment (N). In a graph with the real wage on the vertical axis, and the level of employment on the horizontal axis, the price-setting relation will now be
A) a vertical line. B) a horizontal line. C) an upward sloping line. D) a downward sloping line. E) kinked at the natural rate of unemployment.