The long-run aggregate supply curve is ________ because along it, as prices rise, the money wage rate ________

A) vertical; falls
B) vertical; rises
C) upward sloping; falls
D) upward sloping; stays constant


B

Economics

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High rates of saving today contribute to ________ in the future.

A. more capital gains B. a higher standard of living C. more unemployment D. higher tax rates

Economics

The long run aggregate supply curve (LRAS) also represents

A) the full-employment level of output. B) the full-information level of output. C) the full-adjustment level of output. D) all of the above.

Economics

Refer to Figure 4-4. What is the value of consumer surplus at a price of $18?

A) $60 B) $120 C) $180 D) $240

Economics

Explain how changes in the stock of capital affect aggregate supply

Economics