An increase in the price of a nonlabor input such as oil will cause
A) a movement down the SRAS curve.
B) a movement up the SRAS curve.
C) a leftward shift in the SRAS curve.
D) a rightward shift in the SRAS curve.
E) no change regarding the SRAS curve.
C
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In January 2013, you can put your savings in a Bank of America account and be paid 2 percent per year. During 2013, suppose the inflation rate is 3.4 percent. In 2013 you earned a real interest rate of
A) 0.59 percent. B) 6.8 percent. C) 1.4 percent. D) -1.4 percent.
In the circular flow model, producers
A) and households spend earnings from resource sales on goods and services in the factor market. B) spend earnings from resource sales on goods and services in the product market. C) sell goods and services in the input market. D) hire resources sold by households in the factor market.
An example of indexing is a "cost of living" adjustment clause in a wage contract
a. True b. False Indicate whether the statement is true or false
How do outward-oriented policies affect a nation's productivity?