In the aggregate demand and aggregate supply model, sticky wages, sticky prices, and misperceptions about relative prices
a. have temporary effects.
b. explain why the short run aggregate supply curve might shift.
c. explain why the aggregate demand curve is downward sloping.
d. explain monetary neutrality.
a
Economics
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Economic costs of an input include
A) only implicit costs. B) only explicit costs. C) both implicit and explicit costs. D) whatever management wishes to report to the shareholders.
Economics
Alan Jones owns a company that sells life insurance. When he employs 10 salespersons his firm sells $200,000 worth of contracts per week, and when he employs 11 salespersons, total revenue is $210,000 . The marginal revenue product of the 11th salesperson is:
a. $410,000. b. $10,000. c. $20,000. d. $210,000.
Economics