Multiple Choice
If the actual price level for goods and services turns out to be higher than expected, workers will
A) find their purchasing power is higher than expected.
B) realize higher real wages.
C) seek higher nominal wages.
D) ask for wage decreases to keep their employment.
Correct Answer:
Verified
Correct Answer:
Verified
Q56: Changes in the domestic price level cause
Q57: Sustained increases in the overall price level
Q58: Which of the following phrases best explains
Q59: The long-run aggregate supply curve will shift
Q60: Starting from long-run equilibrium, an increase in
Q62: If government policymakers are shortsighted and use
Q63: Which of these are excluded from the
Q64: The short-run aggregate supply curve is upward
Q65: If the economy is in short-run equilibrium
Q66: In the long run, if aggregate demand