Assuming the economy is experiencing a recessionary gap, classical economists predict that:
a. wages will remain fixed.
b. lower wages will shift the short-run aggregate supply curve rightward.
c. monetary policy should intervene.
d. higher wages will shift the short-run aggregate supply curve leftward.
a
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The mean wage for workers aged 16 to 19 was over $7 per hour in 2005
Indicate whether the statement is true or false
The chair of the Board of Governors of the Fed must resign when a new president is elected
a. True b. False Indicate whether the statement is true or false
Refer to the table and information below. What is the net benefit of project 2?
A government is considering undertaking one or more construction projects. The estimated marginal costs and benefits of each project are given in the table.
A. $2 million
B. $3 million
C. $4 million
D. $5 million
The difference between the stock of inventories at the end of a specific period and the stock at the beginning of that period is equal to
A. production minus sales. B. production plus sales. C. production. D. sales.