Multiple Choice
The assumption that prices and wages are flexible implies that the:
A) Short-run aggregate supply curve is irrelevant
B) Short-run aggregate supply curve shifts slowly in response to deviations of current output from potential output
C) Long-run aggregate supply curve is irrelevant
D) Long-run aggregate supply curve could not shift
Correct Answer:
Verified
Correct Answer:
Verified
Q11: What is meant by saying that automatic
Q28: If inflation increases, this could be illustrated
Q30: Comparing monetary and fiscal policy:<br>A)Fiscal policy has
Q31: "Official" recessions in the United States are
Q32: Policymakers could neutralize all of the following
Q36: Consider the period from 1995 to 1999.The
Q36: Why does it take so long for
Q38: Why would most economists default first to
Q52: Which of the following would be classified
Q54: Which of the following is true?<br>A) A