The short-run aggregate supply curve is upward sloping because...
What will be an ideal response?
money wages do not immediately change when the price level changes
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Which of the following is not an argument in favor of export promotion over import substitution?
(a) international competition compels domestic producers to become more efficient. (b) exposure to world markets provides greater opportunities to learn new technologies. (c) producing for export permits greater specialization and economies of scale. (d) outward-looking development promotes larger firms.
Barriers to entry reduce the likelihood that price-setter firms will see their positive economic profits competed away over time
Indicate whether the statement is true or false
Which of the following labor markets is more likely to be competitive?
A) Receptionists B) Singers C) Soccer players D) Sculptors
Which of the following categories of business cycle theories includes the rational expectations theory?
a. physical b. monetary c. psychological d. spending and saving