A change in the money wage rate shifts...
What will be an ideal response?
the short-run aggregate supply curve but not the long-run aggregate supply curve
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The rational expectations hypothesis indicates that people:
a. pay little attention to policy when forming their expectations about the future. b. expect the next period to be pretty much like the recent past, regardless of policy changes. c. will always be able to forecast the future accurately. d. change their expectations about the future if policy changes.
When multiple countries are trying to boost their economies by lowering the value of their currency, it causes a situation referred to as:
A. competitive revaluation. B. competitive devaluation. C. a speculative attack. D. speculative war.
A currency appreciation
a. reduces aggregate demand and increases aggregate supply. b. reduces aggregate demand and aggregate supply. c. increases aggregate demand and reduces aggregate supply. d. increases aggregate demand and aggregate supply.
The Human Genome Project is a useful example of
A. private sector and public sector collaboration. B. government-conducted research. C. private sector research. D. government spending.