The Keynesian portion of the short-run aggregate supply (SRAS) curve implies
A) a downward slope. B) no price level changes.
C) flexible prices and wages. D) an upward slope.
B
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As the price of computers falls, the quantity of computers demanded increases. This is an application of:
A. the production possibilities curve B. the law of demand C. the law of supply D. needs versus wants
Wealthier countries tend to consume less energy than poorer countries because wealthier countries can afford energy-efficient technologies.
Answer the following statement true (T) or false (F)
Refer to the diagram. If this labor market is purely competitive, the wage rate and level of employment respectively will be:
A. D and E.
B. C and E.
C. B and G.
D. B and F.
The quantities of labor employers are willing and able to hire at alternative wage rates is the:
A. Government employment minimum. B. Supply of labor. C. Marginal physical product of labor. D. Demand for labor.