If money wages increase, the most likely result is a(n)
a. increase in aggregate supply.
b. decrease in aggregate supply.
c. steeper aggregate supply curve.
d. flatter aggregate supply curve.
b
You might also like to view...
Opportunity cost means the
A) accounting cost minus the marginal cost. B) highest-valued alternative forgone. C) accounting cost minus the marginal benefit. D) monetary costs of an activity.
The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2009. What is nominal GDP in 2009?
A) $410 B) $450 C) $900 D) $550 E) $460
For most firms, the costs of energy and raw materials will be total fixed costs
a. True b. False Indicate whether the statement is true or false
Adhering to a strict gold standard necessarily means that
A. each nation can vary its money supply in response to domestic economic conditions. B. no country will experience inflation. C. no country will have control over its monetary policy. D. no country will experience deflation.