A change in the supply of labor, all else remaining the same, will shift the short-run aggregate-supply curve
a. True
b. False
Indicate whether the statement is true or false
True
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In the long run,
A) unemployment is at its natural rate. B) GDP > potential GDP. C) LRAS and SRAS lie on the same line. D) the inflation rate is zero.
Economists believe that the goal of environmental policy should be zero pollution
a. True b. False Indicate whether the statement is true or false
Which of the following will most likely cause movement along the consumption function?
a. a change in disposable income b. a change in interest rates c. a change in tastes d. a change in consumers' expectations
When Classical economists of the 1930s looked at the Great Depression, they:
A. thought it was a result of prices adjusting too quickly. B. suggested wages were too flexible. C. blamed it on activist fiscal and monetary policies. D. lacked a good explanation of why it was happening.