The steeper the short-run aggregate supply curve over the relevant range, the more contractionary monetary policy will reduce prices and the less it will decrease real output
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Offering product-specific services ________ consumer demand, shifting the market demand curve to the ________.
A) decreases; right B) increases; left C) increases; right D) decreases; left
Comparative advantage is based on the
A) concept that some countries are superior to others. B) concept of absolute advantage of producing goods in different countries. C) concept of relative opportunity cost of producing goods in different countries. D) concept that some countries are better endowed with natural resources.
The main purpose of industrial regulation is to:
A. lower price to marginal cost. B. lower price to average total cost such that the firm earns a fair return. C. break monopolies into competing firms. D. reduce X-inefficiency.
The U.S. tax system at both the federal and state levels is ________
A) regressive B) proportional C) progressive D) negative