Which of the following could trigger supply-side inflation?
a. a decrease in the wage rate for all workers
b. an increase in raw materials' prices
c. an increase in productivity of capital
d. an increase in the labor force
b
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Suppose the market-clearing price of wheat is $2.50 per bushel. At a price below $2.50,
A) supply would equal demand. B) quantity supplied would equal quantity demanded. C) quantity supplied would exceed quantity demanded. D) quantity supplied would be less than quantity demanded.
Supplier power tends to be high when
a. your firm purchases critical inputs from the supplier b. your input choices are highly differentiated c. Both A&B d. None of the above
Abstraction is unnecessary when economic analysis is done properly.
Answer the following statement true (T) or false (F)
An increase in unemployment benefits will tend to cause which of the following?
A) a downward shift in the WS curve B) an upward shift in the PS curve C) an upward shift in the WS curve D) a downward shift in the PS curve E) none of the above