The short-run aggregate supply curve is upward-sloping because:
a. the quantity of real output supplied is inversely related to aggregate supply
b. nominal incomes are fixed.
c. of the conjunction between the incremental capital-output ratio and the interbank offer rate.
d. an increase in price will increase the supply of money.
b
You might also like to view...
Refer to Figure 18.1. After trade begins, ________ will specialize in the production of bicycles and ________ will specialize in the production of hang gliders
A) the United States; Canada B) the United States.; the United States C) Canada; Canada D) Canada; the United States
Management needs more _________ who participate in community action programs and families, contribute to scientific, social or economic advances and improve human lives
a. Followers b. Leaders c. Social workers d. Muckrakers
Why do so many immigrants end up in jobs like restaurant and hotel work, lawn care, and janitorial work?
a. Immigrants prefer jobs where they can move around a lot. b. Skilled immigrants are not allowed to use those skills in the United States. c. Many immigrants over age 25 lack a high school diploma. d. Immigrants try to earn some quick cash before returning to their home countries.
Given the slower growth in the demand for labor in the United States since 1973, the large increases in employment must be the result of:
A. decreases in the demand of labor. B. increases in the real wage. C. increases in the supply of labor. D. decreases in the supply of labor.