The quantity of real GDP supplied increases when the price level increases because
A) the quantity of money increases.
B) the real wage rate rises.
C) aggregate demand increases.
D) investment increases.
E) the real wage rate falls.
E
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Exhibit 10-1 Aggregate supply curve
In Exhibit 10-1, there are plenty of idle resources and no upward pressure on prices in:
A. the segment labeled ab. B. the segment labeled bc. C. the segment labeled cd. D. both segment bc and segment cd.
If the population increases, the market demand for most products will:
A. not change. B. decrease. C. increase. D. depend on supply.
A. A recession? occurs, and? government-funded unemployment compensation is paid to? laid-off workers. This is an example of
b. Congress votes to fund a new jobs program designed to put unemployed workers to work. This is an example of c. The Federal Reserve decides to reduce the quantity of money in circulation in an effort to slow inflation. This is an example of d. Under powers authorized by an act of? Congress, the president decides to authorize an emergency release of funds for spending programs intended head off economic crises. This is an example of
The expenditure approach to measuring GDP
A. excludes profits since profits are a cost of production. B. excludes durable consumer goods since they last more than a year. C. adds the dollar value of final goods and services. D. adds the income received by all factors of production.