After a positive demand shock, what are the expected long-run adjustments?
a. Wages fall, price level falls, and output falls back to potential.
b. Wages rise, price level rises, and output falls back to potential.
c. Wages fall, price level rises, and output rises back to potential.
d. Wages rise, price level falls, and output falls back to potential.
e. Wages rise, price level rises, and output rises.
B
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What is the interaction between the Federal Reserve districts and the Board of Governors of the Federal Reserve System?
What will be an ideal response?
The total cost curve generally has
A. slope values that first decrease and then increase rapidly. B. slope values that first increase rapidly and then decrease. C. increasing slope values. D. decreasing slope values.
The United States is a fairly good example of
a. a mixed economy. b. a pure market system. c. a government-dominated economy. d. a manufacturing economy. e. a transitioning economy.