The long-run aggregate supply curve is vertical, and the short-run aggregate supply curve is upward sloping

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Explain the economic assumption that "people are rational."

What will be an ideal response?

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Suppose that the United Kingdom devalues the pound. If both exports and imports are written in terms of pounds, then the United Kingdom balance of trade ________ during a currency contract period

A) improves B) worsens C) is unaffected D) falls for a while before increasing

Economics

When two goods are complements, their cross-price elasticity of demand is:

A. positive. B. negative. C. zero. D. equal to one.

Economics

It is always in the interests of workers for the minimum wage to be as high as possible.

Answer the following statement true (T) or false (F)

Economics