The rate at which aggregate supply changes to restore equilibrium at potential output depends crucially on _____
Fill in the blank(s) with the appropriate word(s).
how quickly real wages adjust to restore full employment in the labor market.
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When a good is non-rivalrous, then there is zero marginal cost to adding an additional user
a. True b. False Indicate whether the statement is true or false
the fed's low short-term interest rate policy of 2002-2004 encouraged decision makers to
What will be an ideal response?
If the government were to increase its spending, it would expect:
A. aggregate supply to shift to the right. B. aggregate demand to shift to the right. C. aggregate supply to shift to the left. D. aggregate demand to shift to the left.
Firm's under conditions of perfect competition will
A) Will face a few other competitors in the market. B) Will face barriers to entry. C) Have no disproportionate influence on price. D) None of the above.