The short-run aggregate supply curve shows the _____ relationship between the inflation rate and real growth during the period when prices and wages are _____
Fill in the blank(s) with the appropriate word(s).
positive; sticky
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Who loses and who gains from the minimum wage?
A) Losers are all workers and gainers are all firms. B) Losers are all firms and gainers are all workers. C) Losers are all firms and some workers, while gainers are other workers. D) Gainers are some firms and all workers, while losers are some firms. E) Gainers are some firms and some workers, while losers are other firms and other workers.
An example of a public good that the government has made excludable is:
A. national defense. B. city buses. C. sewer systems. D. police protection.
In an increasing-cost industry, the long-run market supply curve is:
A. positively sloped. B. negatively sloped. C. vertical. D. horizontal.
The demand curve for a perfectly competitive industry is
A) downward sloping. B) horizontal. C) vertical. D) upward sloping.