A decrease in the nominal wage will cause the aggregate supply curve to
A. shift outward. .
B. shift inward.
C. become flatter
D. become steeper. .
Answer: A
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Which of the following is a variable in the equation of exchange?
A) real GDP. B) the velocity of money. C) the money supply. D) the price level. E) all of the above.
List three ways government can reduce depletion of an endangered resource. Which of these ways requires the least amount of management, monitoring, and bureaucracy?
What will be an ideal response?
Whenever a firm is making positive economic profit, there is nothing it can do to make more profit.
Answer the following statement true (T) or false (F)
If the velocity of money is about 1.8 and nominal GDP is $14.4 trillion, what is the money supply?
A. $14.4 trillion B. $8.0 trillion C. $1.8 trillion D. We cannot compute the money supply from the data given.