The long-run aggregate supply analysis assumes that:
A. Input prices are fixed while product prices are variable
B. Input prices are variable while product prices are fixed
C. Both input and product prices are variable
D. Both input and product prices are fixed
C. Both input and product prices are variable
You might also like to view...
In 2008, Cameron began his career with SBC. His starting salary was $32,000. By 2012, his salary increased to $35,000. If the CPI was 100.0 in 2008 and 107.5 in 2012, Cameron's 2012 real income is
A) $35,000. B) $32,558. C) $32,000. D) $37,625. E) $34,400.
Which of the following is most likely to lead to an increase of 1% in the nominal demand for money?
A) An increase in real income of 0.5% B) A decrease in real income of 0.5% C) A decline of 1% in the price level D) An increase of 1% in the price level
If all consumers are uninformed about the quality of a product
A) firms can increase product by selling the same product under a different name at a different price. B) firms will not be able to price discriminate. C) firms will price discriminate. D) firms will increase profits by charging different prices for the same product.
Union membership has been falling since the year ________.
Fill in the blank(s) with the appropriate word(s).