If nominal wages and salaries are fixed as firms change product prices, the short-run aggregate supply curve (SRAS) is:

Resources that are ________ tend to be carefully managed to provide profits, which ensures that they will last a long time

A) publicly held B) privately owned C) scarce D) abundant

With the assumption that some voluntary exchanges that would make both parties better off are somehow being blocked, we have the basis for a ________ macroeconomic model, such as those constructed by ________ economists

A) non-market-clearing, New Keynesian B) non-market-clearing, New Classical C) market-clearing, New Keynesian D) market-clearing, New Classical