Aggregate supply increases when
a. wage rates or interest rates decrease while the economy's price level remains unchanged
b. resource availability is reduced
c. there are fewer workers
d. there is less capital and the price level remains unchanged
e. there are increased inflationary expectations of labor
A
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Which of the following statements is true of the Europeans in the period of colonization?
A) Europeans set up extractive economic institutions in all areas. B) Europeans set up relatively extractive economic institutions in areas that had greater population densities. C) Europeans set up relatively inclusive economic institutions in areas that had greater population densities. D) Europeans set up inclusive economic institutions in all areas.
Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. The mixed-strategy equilibrium in this zero-sum game occurs when
A) each player plays a pure strategy. B) one player plays a pure strategy and the other plays a mixed strategy. C) both players play their ideal mixtures. D) There is never an equilibrium in a zero-sum game.
When the Fed lowers the federal funds rate and the real interest rate falls, what happens to the opportunity cost of investment? What happens to investment?
What will be an ideal response?
The marginal resource cost is the amount by which an additional unit of input decreases the firm's variable costs
a. True b. False Indicate whether the statement is true or false