In the fooling model, AD/SAS equilibria to the right of LAS are unstable because ________ nominal wages shift ________
A) falling, AD downward
B) falling, SAS downward
C) rising, AD upward
D) rising, SAS upward
D
Economics
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A bilateral monopoly is characterized by a market with a single buyer and a single seller. Which factor is most likely to determine the market outcome in this situation?
A) Share of total costs that are fixed B) Degree of demand elasticity C) Degree of supply elasticity D) Bargaining power of the firms
Economics
Butter and margarine are examples of
a. substitutes b. complements c. externalities d. inferior goods e. goods that are independent of each other
Economics