One reason that explains why the short-run aggregate supply curve is upward sloping is:
A. sticky wages.
B. cartels keeping prices artificially high.
C. the lag involved with public policy making.
D. the changing profit levels experienced by firms.
A. sticky wages.
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Define the three functions of money
What will be an ideal response?
The market supply curve of a particular product indicates the total quantities
a. that are actually sold during a given time period b. that buyers are willing to purchase at alternative prices c. that sellers are willing and able to offer at alternative prices d. that sellers are willing to offer for sale e. of complements offered for sale
The field of economics that would be most concerned with a recent fall in interest rates is:
A. marginal economics. B. macroeconomics. C. economic naturalism. D. microeconomics.
The greater are the barriers to entry into an industry
A. the more elastic will be the demand curves for existing firms. B. the more likely that existing firms will enjoy large profits in the long run. C. the lower will be short-run profits. D. the lower will be the average cost curves of existing firms.