Which of the following shifts the aggregate supply curve rightward?
A) increase in real GDP
B) increase in the money price of oil
C) increase in the money wage rate
D) increase in potential GDP
E) increase in consumers' incomes
D
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On a linear demand curve, the price elasticity of demand at the mid-point of the curve is: a. greater than 1. b. less than 1
c. equal to 1. d. equal to 0.
A game in which players collectively gain is known as a
A) zero-sum game. B) positive-sum game. C) negative-sum game. D) cooperative game.
Refer to the scenario above. Which of the following is true about this game?
A) This game has two dominant strategy equilibria. B) This game has multiple Nash equilibria. C) This game has a unique Nash equilibrium. D) This game does not have a dominant strategy equilibrium.
What does the sign (positive/negative) of the cross elasticity of demand tell us about the relationship between two goods?
What will be an ideal response?