As the money wage rate increase...
What will be an ideal response?
the short-run aggregate supply curve shifts leftward
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The price elasticity of supply is always a positive value because
i. there is a direct relationship between the price and the quantity supplied. ii. as the equilibrium price increases, the equilibrium quantity also always increases. iii. buyers are willing to pay a higher price for larger quantities. A) i only B) ii only C) iii only D) i and ii E) ii and iii
On average, college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age
a. True b. False
The law commonly known as the ______________ can impose an 80-day “cooling-off period” to allow time for negotiations to proceed without the threat of a work stoppage.
a. Fair Labor Standards Act b. Clayton Act c. Taft-Hartley Act d. Peonage Act
Which of the following conditions distinguishes monopolistic competition from perfect competition?
a. the number of sellers in the market b. the freedom of entry and exit by firms in the market c. the size of firms in the market d. product differentiation