Multiple Choice
The misperceptions theory of the short-run aggregate supply curve says that if the price level is higher than people expected,then some firms believe that the relative price of what they produce has
A) decreased,so they increase production.
B) decreased,so they decrease production.
C) increased,so they increase production.
D) increased,so they decrease production.
Correct Answer:
Verified
Correct Answer:
Verified
Q21: If wages are sticky,then a greater than
Q22: Figure 33-3. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 33-3.
Q23: The sticky-wage theory of the short-run aggregate
Q24: The long-run aggregate supply curve shifts right
Q25: Other things the same,continued increases in the
Q27: A decrease in the expected price level
Q28: Which of the following shifts long-run aggregate
Q29: The sticky-wage theory of the short-run aggregate
Q30: In the long run,an economy's production of
Q31: Other things the same,if workers and firms