Which of the following shifts the short-run aggregate supply curve?
I. changes in the size of the labor force
II. changes in the money wage rate
A) I only
B) II only
C) both I and II
D) neither I nor II
C
You might also like to view...
The reduction or covering of a foreign exchange risk is called
A) hedging. B) speculation. C) intervention. D) arbitrage.
Critical assumptions behind the Laffer curve include
a. labor supply is inelastic. b. investment is very responsive to higher savings and lower interest rates. c. the economy is above the marginal tax rate that maximizes tax revenue. d. both b and c. e. all of the above.
If the price of a product falls below average total cost in the short run, the firm:
a. has an economic profit. b. cannot cover total fixed costs. c. experiences a loss. d. must always shut down. e. should expand output until MC = MR.
If the CPI was 120 in 1994, was 126 in 1995, and was 134.82 in 1996, what was the inflation rate in 1995 and in 1996?