The long-run aggregate supply curve is ______ because along it, as prices rise, the money wage rate ________.
What will be an ideal response?
vertical / rises
You might also like to view...
The only type of business that faces unlimited liability is a sole proprietorship
Indicate whether the statement is true or false
Social insurance
a. is the basis for most government redistribution programs. b. is usually community-rated with premiums based on ability to pay. c. is the basis of the provision of medical care to the poor, elderly, and other vulnerable population groups in the U.S. d. requires mandatory participation to be effective. e. all of the above.
Let's play Jeopardy. The answer is: Because more goods are produced at lower prices and no country loses. The question is:
a. Why do countries engage in dumping? b. Why do countries retaliate? c. Why do nations trade? d. Why is comparative advantage preferred to absolute advantage? e. Why is absolute advantage preferred to comparative advantage?
In this book, An inquiry into the Nature and Causes of the Wealth of Nations, Adam Smith described a visit he made to a
A) car factory. B) Pin factory. C) Washing Machine Factory. D) farm.