Which of these is not assumed to be constant along a short-run aggregate supply curve?
a. The actual price level
b. The state of technology
c. The size and quality of the labor force
d. The expected price level
e. The size and quality of the capital stock
a
You might also like to view...
In the expenditures approach of national income accounting, C, I, and G include expenditures for ________.
A. domestically-produced, as well as imported, goods and services B. exported goods and services C. domestically-produced goods and services only D. the private sector of the economy only
This Application showed that
A) the WTO can affect the actions of member countries, but rapid resolution of disputes requires ongoing negotiations between countries. B) decisions by the WTO can lead to further conflicts between countries. C) it may take years for decisions by the WTO to take effect. D) all of the above
To find the opportunity cost of producing one more unit of any product while on the production possibilities frontier requires
A) subtracting the change in the product whose production increased from the change in the product whose production decreased. B) dividing the amount of the product forgone by the amount of the product gained. C) setting the amounts of the two products equal to each other. D) setting the change in one product equal to the change in the other product. E) None of these describes how to find opportunity cost.
Trade between countries is based on
A) absolute advantage only. B) monopoly power. C) comparative advantage. D) none of these choices.