Misperceptions theory helps explain what feature of the aggregate demand and aggregate supply model?
why the short run aggregate-supply curve slopes upward
You might also like to view...
The substitution effect of a wage increase
a. probably leads most workers to want to work more. b. certainly leads all workers to want to work more. c. probably leads most workers to want to work less. d. certainly leads most firms to want to employ more workers.
Purchases of foreign assets by domestic firms or households is called a:
A. capital outflow. B. capital inflow. C. trade deficit. D. trade surplus.
The theory of comparative advantage suggests that nations should produce a good if they:
A. have the lowest opportunity cost. B. have the lowest wages. C. have the most resources. D. can produce more of the good than any other nation.
If the utility for two goods "x" and "y" is measured as U = x + y, then it can be concluded that
A) "x" and "y" are perfect substitutes. B) "x" and "y" are perfect complements. C) "x" and "y" are both bads. D) the indifference curves on the x,y graph will be upward sloping.