If workers and firms forecast inflation accurately,
a. the aggregate supply curve will be vertical.
b. the real wage will not decline as the price level rises.
c. workers will not lose from inflation, and firms will not gain.
d. All of the above are correct.
d
Economics
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If a monopolist's price is $50 at the output where marginal revenue equals marginal cost and average total cost is $43, then the average profit is $7
Indicate whether the statement is true or false
Economics
Which of the following will make price discrimination difficult for a monopolist?
A) the possibility of resale of the product B) a constant marginal cost curve C) an increasing marginal cost D) a downward sloping demand curve
Economics