The price system has
A) prices fixed by the government.
B) prices fixed by the seller.
C) voluntary exchange.
D) prices fixed by the producer.
Answer: C
Economics
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The aggregate supply curve slopes ________ because a ________ in the price level brings a ________ in the real wage rate
A) upward; rise; rise B) downward; fall; rise C) upward; rise; fall D) upward; fall; fall E) downward; rise; rise
Economics
A pecuniary diseconomy occurs when
A. supply exceeds demand. B. higher output levels results in the same unit costs. C. higher output levels results in lower unit costs. D. an expansion of industry output increases the price of an input.
Economics