Multiple Choice
The mathematical equation: quantity of output supplied = natural rate of output + a(actual price level - expected price level) ,expresses
A) how the long run equilibrium adjusts to changes in money supply.
B) how output deviates in the short run from its long run natural rate.
C) how the short run aggregate supply curve shifts.
D) how adverse shifts in aggregate supply can cause stagflation.
Correct Answer:
Verified
Correct Answer:
Verified
Q54: Menu costs help explain<br>A)sticky-price theory.<br>B)misperceptions theory.<br>C)sticky-wage theory.<br>D)All
Q55: Which of the following would shift long-run
Q56: Which of the following shifts the short-run
Q57: Which of the following shifts short-run aggregate
Q58: The long-run aggregate supply curve shifts right
Q60: People had been expecting the price level
Q61: The equation: quantity of output supplied =
Q62: Other things the same,continued technological progress and
Q63: Which of the following shifts short-run aggregate
Q64: Which of the following correctly expresses why